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APMEX, the world's largest online Precious Metals retailer, has witnessed a surge in sales as Gold hit a one-year high this morning. Prices surged above $1,240 per ounce Thursday morning. Headlines around the globe cite the market panic as coming from European instability, bets that the Federal Reserve won't hike interest rates in March, and traders shunning the U.S. dollar in favor of Gold. To see today's current spot price, visit APMEX.
Thursday's market movement is the second movement of the week. The Gold spot price started at $1,130 per ounce February 1 and has steadily risen more than $100 this month, with a near $40 movement on Monday, February 8, as well.
"Gold is an investment you can hold. There's a reason investors rely upon it in times of uncertainty, and this is no exception," said APMEX CEO Ken Lewis.
- According to the Telegraph, "The stock market plunge has triggered a Gold buying spree with a popular fund that tracks the metal accepting the most cash on a single day since the financial crisis on Tuesday."
- CNBC attributes the movement to European instability, explaining, "Traders said financial instability fears were fueled by European bank shares slumping to multi-year lows, with concerns mounting over banks' profitability in a low-growth and low-interest rate environment."
- TheWeek explains uncertainty is widespread across the globe, saying, "Markets are extremely jittery at the moment as investors panic over the prospects for the global economy."
- Comparing Gold to the S &P, earlier this week Fortune said "The stock market is having a horrible time so far in 2016, with the S&P 500 down more than 9%. Gold, on the other hand, is up nearly 10% year-to-date." With today's gains, that percentage difference will exasperate.
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"Our phones are ringing off the hook this week, and we've seen some big purchases in physical Gold as investors protect their wealth. We've also see a lot of new investors enter the Precious Metals market to take advantage of the surge," explained Lewis.
If you are interested in purchasing Gold today, you can buy one of thousands of Gold products from APMEX online or call (800) 375-9006. Common best-selling Gold products that investors purchase include American Eagles, Canadian Maple Leafs, and Gold bars such as PAMP Suisse and Credit Suisse.
