Investing is gold is always profitable at the end

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In nine out of ten previous years, gold prices, in the period December 23 to January 3, were on the increase with an average profit of 2,9 % of value, according to Bloomberg.

Even in 2013, 2014 which were the worst for gold in the past decade, value of this metal increased over the holidays period at the end of the year.

It seems that pre-New Year’s gold price jump has already started so price of gold for urgency deliveries, which December 3 fell to a 5-year minimum of USD 1.046,44 per ounce, progressed since then by 2,3 percent, and yesterday it totaled USD 1.070,50 per ounce, according to New York’s agency.

Jump in gold price at the end of the year, according to estimations of Breda Jets from Elemetal capital, the result of tendency of consumers in China, the biggest world buyer of gold, is to procure stocks before holiday period of Chinese lunar New Year.

Demand for gold this year remained strong in Asia although in some other places it decreased so in the ground area fo China, increase in gold shopping 7,8 percent from January until September this year has been registered, according to the Chinese Association for gold.