Metal price update

22 09 2011

Following yesterday’s story about the stupid use of precious gold and materials, I thought I’d check out the current price of gold and silver.

My last post on metal prices was exactly 6 months ago … so what’s changed?

As at 21st September 2011:

1. Gold price in US$ for last 12 months

21st September 2011; gold in US$; click on image for original source

2. Gold price in A$ for last 12 months

21st September 2011; gold in A$; click on image for original source

This isn’t news to anyone who’s been wanting to buy gold in the last two months … but the jump since July is AMAZING and utterly ridiculous!

The key reasons for this jump may be the international nerves about the state of the European countries and their national debts, and a similar concern around the US economy. And gold is often a refuge for investors escaping from shares and currency.

So what about silver?

3. Silver price in US$ for last 2 years – so looks like the price has been around stable since April, but it’s still twice what it was a year ago.

21st September 2011; silver price in US$; 2 year graph; click on image for original source

So silver hasn’t seen the same increase in the last six months than gold … has the price affected your own practice??

Update (24th September): the gold price took a stunning tumble in recent days – see here; I’ll watch it with interest in the coming weeks.

Update (30th September): check out the price tumble!



One response

30 09 2011
Metal price tumble « Melbourne Jeweller

[…] last price update was only last week, but the bubble looks to have burst in that time… So to […]

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