Professional Jeweler Archive: What Goes Up . . .

February 2000

Precious Metals & Bench/Data & Statistics

What Goes Up . . .

Precious metals prices swing up in the fourth quarter then slide back

Gold prices ended 1999 at the same place they began – around $285 per ounce – after a short-lived spike up to $324 in October. That increase followed a decision by a group of central banks to limit gold sales in the next five years. Adding to the strength of gold was an announcement that gold producers had sold a large amount of their future production, meaning further supply limits. Since then, prices have settled back with the return of the apathy that has marked the gold market in the past five years.


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