Gold News: Demand For Gold On The Rise
Several analysts are comparing this recent boom in metals to the commodity rapid increase in prices of 2007, in which gold hit an all time high of $1,900 an ounce, in September 2011.
A top analyst from Paradigm Capital, the research-driven investment dealer, says that “a new upcycle has begun in the gold sector,” estimating that “a ‘standard’ upcycle would take us to $1,800 an ounce over the next three to four years.” Some analysts are even more optimistic, Diego Parilla, the precious metal expert and co-author of the book “The Energy World is Flat” argues that gold could hit $3,000 per ounce.
Whether or not this turns out to be the case, it’s clear that sentiment in precious metals has shifted dramatically, giving the group newfound momentum.
This movement has helped fuel demand for American Eagle gold and silver coins. Spirited sales preceded gold’s recent bottom late in 2015 and have remained strong even as the precious metal rebounded in recent years. Sales in April jumped nearly 180 percent from March and 257 percent from the same time in 2015. Silver coins are also moving fast after hitting an all time sales record of 44.8 million ounces in 2015.
