May in Precious Metals by Steven Cochran of Gainesville Coins

May in Precious Metals by Steven Cochran of Gainesville Coins

Welcome to SurvivalBlog’s Precious Metals Month in Review. Here, we take a look at “the month that was” in precious metals. Each month, we cover the price action of gold, and examine the “what” and “why” behind those numbers. This column is authored by Steven Cochran of Gainesville Coins. Today, we highlight the effects of terrorism on the price of gold.

What Did Gold Do in May?

Gold stated the month of May right at $1,268. However, unexpectedly strong economic data blasted prices down by $40 an ounce to a seven-week low in the first week. The first estimate for the US economy in the second quarter was far higher than anyone expected, and the Federal Reserve declaring first quarter weakness was temporary.

Gold prices bottomed out on May 11, and began an uptrend that saw the gold market erase all of May’s losses by the … Continue reading

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May in Precious Metals by Steven Cochran of Gainesville Coins

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