Gold Price at Around $1,400 per ounce

Gold was trading around $1,400 on Wednesday. At the time of writing this post the price for gold was $1,400.00. First the price went down to $1,385 and then it went up, crossing the $1,400 per ounce line, with a high just short of $1,410 per ounce.

[caption id="attachment_11877" align="alignright" width="202" caption="Gold Price at 1:36 pm November 10, picture courtesy of goldprice.org"][/caption]

Kitco reports:
"Comex gold futures prices have weakened further in mid-morning dealings Wednesday. December gold last traded down $18.50 an ounce at $1,391.70. Gold prices have backed down after some bargain-hunting buying interest briefly pushed the market back toward the daily high. The U.S. dollar index has also strengthened further at mid-morning, which is putting fresh downside pressure on the precious metals. "

TheStreet reports:

"Gold for December delivery was slipping $22.40 to $1,387.70 an ounce at the Comex division of the New York Mercantile Exchange. The gold price Wednesday has traded as high as $1,410 and as low as $1,383.40. "

The underlying reason seems to be the strengthening dollar against the Euro, which is most likely a short term issue.

Update

[caption id="attachment_11881" align="alignright" width="201" caption="Gold Price at 7:00 pm November 10, picture courtesy of goldprice.org"][/caption]

The gold price at 7:00 pm was $1,401 per ounce.

At 9:15 pm the price for gold was at $1,404.45.

[caption id="attachment_11895" align="alignright" width="260" caption="Gold Price $1,404.45 per ounce"][/caption]

Prices for Bullion Gold Coins

Krugerrand Gold Coins Price : $1,447.07 - $1,483.12

Canadian Gold Maple Leaf Price : $1,446.90 - $1,482.70

American Gold Eagle Bullion Coins $1,459.60 - $1,549.00

Prices for gold coins courtesy of goldprice.org.