A little under a month ago, we reported on the gold price reaching a new all-time high, and on Easter Monday, the gold price hit yet another record of $2,265.73 per troy ounce (31.103 grams).
Since the beginning of this year, the gold price in dollars has risen by nearly 9 per cent. Looking at the gold price in euros, the increase is even 12 per cent. This puts gold—in euros—on track for its best year since the pandemic year of 2020 when the gold price rose by 15 per cent.

Why is the gold price rising?

There are several reasons behind the increase in the gold price. According to ING commodity strategist Warren Patterson, the market is increasingly convinced that the US central bank, the Fed, will start lowering interest rates in June. Rising speculations about interest rate cuts weaken the dollar, making gold cheaper for traders using other currencies. This drives demand for gold and, consequently, raises the price of the precious metal.
Additionally, the gold price is benefiting from strong demand from China. Not only are Chinese consumers flocking to gold due to the country's economic troubles, but the Chinese central bank has also added significant quantities of the precious metal to its reserves.
Finally, many investors are seeking safe investments due to the war in Ukraine and the conflict between Israel and Hamas. As a result, many turn to gold, which is considered a “safe haven.”

Investing in Gold

You can purchase gold safely, at the best price, and with excellent service at The Silver Mountain. Gold investors often opt for 1 troy ounce coins or larger denomination gold bars. The larger the gold bar, the lower the relative production costs, making it more cost-effective.
To help you as a customer further, we have developed a unique Decision Tool. With just five questions, you will receive a personalised offer based on your investment amount, choice of metal types, and whether you are purchasing the precious metal for business or personal use.

Selling Gold

Whether you buy bars or coins through The Silver Mountain, it does not affect the resale value of your products. With our buyback guarantee, we ensure that we will always repurchase these products at a fair price. Selling your gold is easy, safe, and quick via Inkoop Edelmetaal. Simply create a sales order and bring your precious metals to us, have them collected by our own collection service, or send them (insured) from a PostNL service point.