Between early April and late June, it ran up from the $1,700 zone past $1,900, and then began traveling down again, only to bounce back up toward the end of June.
That’s positive news for investors and traders who enjoy holding metals for long-term gains or playing the ups and downs for short-term profit potential.
When per-ounce pricing wavers between temporary highs and lows, many turn to CFDs as the tool of preference for making money off the bounces.
CFDs are efficient, uncomplicated ways for people to risk as much or as little as they wish in virtually any segment of the market without committing to taking ownership of shares, bonds, metals, or anything else.
Indeed, the early months of the global COVID virus saw gold’s prices surge well past the $2,000-per-ounce mark, only to sink back down to about $1,685 during the following eight months.
If another, similar virus was to hit the global economy the same way it was hit in early 2020, the entire precious-metals sector could reach new highs.
In fact, anyone who expects the rest of the year to be a challenging one in terms of unemployment, housing starts, inflation, and business health would view gold as a potentially solid opportunity.
Of course, the leader of that category is gold, whose price tends to buoy whenever bad news or political problems are afoot.