Friday Oct 11th we had a bit of a “gold rush” at our coin & bullion the store in Sherwood Park, here. We were selling about 3 or 4 times more gold then we normally would.
The spot price of gold closed Friday at about $1318.00 CAD which was down about $27 for the day. Gold has fallen $83 per ounce since its 30 day high of $1401 from mid September.
Silver closed the week at $22.16 per ounce CAD down from it’s 3o day high of $23.69 also from mid September.
I think the temporary drop in prices here is what is driving the buyer demand, people have been waiting to get into the market and here they are now!
News to watch:
– U.S Debt ceiling: The genius’s in U.S congress will continue to argue over raising the debt ceiling, Obama care and the U.S government Shutdown, Speaking of Obama card, who the heck names these things? Anyways if the government can’t make a deal on the debt ceiling and the threat of U.S default continues then we could see gold and silver rise sharply, but who the heck knows for sure. See ya next week, gotta fly!
-Aaron
Aaron Buys Gold
Coin & Bullion
Sherwood Park
Edmonton Area Bullion Dealers.