Gold price hits $1,000 USD/oz in the market
On Friday, two significant things happened in the markets. The Dow hit one of its lowest levels in 6 years, and for the second time in recent history, gold rose to over $1,000 USD/oz.
How is this going to affect future demand and will there be supply shortages? Or does today’s price represent gold entering into a zone of resistances that precedes the decline in demand?
It is possible that the eBay gold bullion trading community will be facing a large increase. In the past week, gold bullion trading on the eBay USA platform alone peaked at an all time weekly high of $3.26 million USD in two years. This represents a 95% increase from the same time a year ago.
As the gold trend unfolds, it will be interesting to see how the online gold trading community will respond.

February 7th, 2010 at 6:32 am
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