Gold rises above $1,800 per ounce

Gold price has gone past another important technical level, which is $1800 per ounce today.  

This is because the interest rate increases will be moderated in the US as per Federal Reserve Bank of the US, and which in turn is due to inflation easing in the US. Why is inflation easing, is another topic.

However this is a positive for gold prices, and gold prices are now just $200 below the most important $2,000 per ounce levels. Once gold prices cross $2,000 per ounce levels, and if importantly this time it sticks or stabilizes around at $2,000 per ounce level (Previously in August 2020, and also in March 2022, gold prices had briefly crossed $2,000 these levels). That will be a new normal for gold.

That is a level at which gold prices would reach their historical peak levels, will stabilize and shoot up even higher to new levels never seen before.

Gold and Silver Break Above Important Technical Level

On Nov 9th, Gold moved above $1,700 per ounce, which is an important technical level. To be sure, Gold had reached up to $2,050 per ounce in late March of this year. Gold had similarly moved above $2,000 per ounce in Aug 2020. 

During the initial part of this century, Gold increased from around $240 per ounce in 2001, all the way to $1,900 per ounce in 2011, a 646% increase.

Same for Silver, which has already crossed above 3 month high levels of $22 per ounce, and is all set to cross $26 per ounce which was its highest ever level reached, in March this year.