Can gold reach the $1,500 mark?

As expected, the gold price this week has continued to swell, reaching a staggering £1,124.36* per ounce. With numerous market influences currently driving the price up, investors are wondering whether this is the bull run they’ve been waiting for.

The World Gold Council’s Manager of Investment Research, Adam Perlaky comments this week: “Gold had its largest weekly move to the upside since April 2016, continuing its move higher for a fifth straight week. This is likely driven by the US dollar falling sharply (-1.4%) and the price of gold breaking out of the key technical resistance level of $1,365. Gold is having its best month in two years, having rallied nearly 8% in June, while it is up 10% over the past month”.

Interestingly, LBMA’s forecast report for this year also shows only 20% of contributors predicted the gold price would move above the $1,431.40 mark. With a further six months of 2019 still to go, and the gold price already defying expectations, who knows what will happen next…

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To take advantage of our buy back service today, follow these six simple steps for selling physical gold back to us:

1) Submit a quotation - Visit our dedicated buyback page on our Royal Mint Bullion website or call our customer service team on 0345 600 5014.

2) Quote sent via email - You'll receive a quote containing the offer price for your bullion products via the email address used for your account.

3) Review your quote - Once you have received the quotation, you can choose to either accept or reject it by responding to the email.

4) Send in your bullion - Instructions will be provided by the customer service team via email regarding the delivery of your precious metals to us, or an arranged drop off with an approved partner. All bullion will be assay tested for authenticity.

5) Receive payment to your bullion account - Once your precious metal item has proved its authenticity, funds will be deposited into your bullion account.

6) Re-invest or withdraw your funds - Your new funds can be used to either buy more bullion or can be withdrawn back to your personal bank account.

*As of the 25th June 2019