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Will the price of gold climb in June? Experts weigh in
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Gold prices have been on the rise for quite a while. In fact, since last October, the spot price of gold has climbed from about $1,800 per ounce to over $2,300 today — a 28% increase. (It even surpassed the $2,400 mark in May).
For those who bought gold last year, it has meant a steady rise in value — and a solid return on investment. Will that trend continue through this June, though? Here’s what you should know.
Learn more about how you can get started with gold investing here.
Will the price of gold climb in June? Experts weigh in
Here’s what experts say is in the cards for gold prices as we head into the summer.
Gold prices could increase
Some experts think gold prices could increase in June.
“We are in a healthy uptrend with gold finding strong support at $2,300,” says Adam Butler, senior account executive at Anthem Gold Group. “I think we will continue in an uptrend, potentially closing June above $2,450.”
It largely depends on inflation and what the Federal Reserve does in response, though, experts say. The central bank is working to get inflation down to 2% (it was 3.4% in April) and has been keeping interest rates high to help achieve that goal.
“Fed officials indicated that it would take longer than previously anticipated to gain greater confidence in inflation moving to 2%,” says Jack Brown, owner of Mid-states Recycling and Refining, a precious metals refinery in Des Plaines, Illinois. “This delay could result in a trending increase in metal prices through the latter part of July and into the fall.”
Find out more about the benefits of gold investing online now.
It may have peaked already
Others think that gold prices might have hit their highest point already — and that a leveling off or decline is in the cards.
“Even though the price of gold is still near an all-time high and has made large gains over the past 12 months, prices may have peaked in the short-term,” Stuart Boxenbaum, president of Statewide Financial Group, says.
The recent price gains may also inspire more gold investors to sell in the coming months, according to Russell Shor, senior market specialist at trading platforms FXCM Markets and Tradu.
“June may be weaker as market participants take profit,” Shor says. “It was trading off its highs into month-end. That may mean a pullback in the yellow metal is due.”
The price will likely remain high for a bit
Even if gold prices have peaked or are poised for a fall, experts don’t expect a steep decline by any means.
“I see gold prices remaining high, although likely a little choppier because of the uptrend near its peak recently,” Boxenbaum says. “It’s probably unlikely we will see any large change in the price of gold in June.”
To see a big decline in the price of gold, economic conditions would need to shift more significantly, which Boxenbaum doesn’t expect will happen for at least several months.
“We would need to see significantly lower budget deficits, which isn’t likely to happen during our current presidential administration,” Boxenbaum says. “Also, we would need price reductions in other key items such as oil and food prices. Unfortunately, this is also unlikely to happen anytime soon.”
Again, inflation and Fed moves will determine the ultimate trajectory of gold prices. Should inflation remain high, more investors are likely to buy gold, as it’s often seen as a solid inflationary hedge. If inflation falls, interest in gold — and gold prices — will likely fall.
“Inflation has been in the 17% per year range for three years and counting, so it is unlikely that inflation will fall anytime soon,” Boxenbaum says. “This will keep prices of gold in the high range.”
The bottom line
If you’re not sure whether it’s the right time to buy gold for your portfolio, you may want to talk to a financial professional or advisor. They can also help you determine how much to buy (most recommend no more than 5 to 10% of your portfolio) and what method to use. You may want to consider purchasing physical gold, opening a gold IRA, or buying gold stocks or ETFs, depending on your goals and appetite for risk.
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How to watch the Minnesota Vikings vs. Chicago Bears NFL game today: Livestream options, more
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The Minnesota Vikings will take on the Chicago Bears today. The Vikings are currently 8-2, an impressive run so far this season, and will be looking to add a fourth win to their current streak after last Sunday’s 23-13 win against the Tennessee Titans. The Bears, on the other hand, are entering this game on the heels of a four-game losing streak after a tough 20-19 loss against the Green Bay Packers last Sunday.
Here’s how and when you can watch the Vikings vs. Bears game today, whether or not you have cable.
How and when to watch the Minnesota Vikings vs. Chicago Bears
The Vikings vs. Bears game will be played on Sunday, November 24, 2024 at 1:00 p.m. ET (11:00 a.m. PT). The game will air on Fox and stream on Fubo and the platforms featured below.
How and when to watch the Minnesota Vikings vs. Chicago Bears game without cable
You can watch this week’s NFL game on Fox via several streaming services. All you need is an internet connection and one of the top options outlined below.
Fubo offers you an easy, user-friendly way to watch NFL games on CBS, Fox, NBC, ABC, ESPN, and NFL Network, plus NCAA football channels. The Pro tier includes 200+ channels and unlimited DVR, while the Elite with Sports Plus tier adds NFL RedZone and 4K resolution. New subscribers get a seven-day free trial and all plans allow streaming on up to 10 screens simultaneously.
You can watch today’s game with a subscription to Sling’s Orange + Blue tier, which includes ESPN, ABC, NBC, and Fox. The plan offers 46 channels with local NFL games, nationally broadcast games and 50 hours of DVR storage. For complete NFL coverage, add Paramount+ to get CBS games, or upgrade with the Sports Extra add-on for additional sports channels like Golf Channel, NBA TV and NFL RedZone.
Watching NFL games, including Fox broadcasts, is simple with Hulu + Live TV, which includes 90 channels, unlimited DVR storage, and access to NFL preseason games, live regular season games and studio shows. The service includes ESPN+ and Disney+ in the subscription.
Want to watch today’s game live on your smartphone? If so, NFL+ streaming service is the solution you’re looking for. It lets you watch NFL Network and out-of-market games on mobile devices, with an upgrade option to NFL+ Premium that includes NFL RedZone for watching up to eight games simultaneously. Note that NFL+ only works on phones and tablets, not TVs.
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How to watch the Detroit Lions vs. Indianapolis Colts NFL game today: Livestream options, more
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The Detroit Lions will face off against the Indianapolis Colts today. The Lions enter this game as top contenders with a near-perfect record of 9-1 so far this season. The Colts, who are 5-6 this season, could have a tough game on their hands against the Lions but will be looking to rack up another win after prevailing over the New York Jets in a tight game last Sunday.
Here’s how and when you can watch the Colts vs. Lions game today, whether or not you have cable.
Here’s how and when to watch the Detroit Lions vs. Indianapolis Colts
The Lions vs. Colts game will be played on Sunday, November 24, 2024 at 1:00 p.m. ET (11:00 a.m. PT). The game will air on Fox and stream on Fubo and the platforms featured below.
How and when to watch the Detroit Lions vs. Indianapolis Colts game without cable
You can watch this week’s NFL game on Fox via several streaming services. All you need is an internet connection and one of the top options outlined below.
Experience NFL action like never before with Fubo’s comprehensive sports streaming platform. From Sunday showdowns to primetime matchups, catch every NFL game across major networks including CBS, Fox, NBC, ABC, ESPN and NFL Network. Choose the Pro package to unlock 200+ channels and limitless DVR storage, or elevate your game-day experience with the Elite with Sports Plus package, featuring NFL RedZone’s commercial-free scoring highlights and stunning 4K quality.
Test drive the service with a no-commitment seven-day free trial, and share the excitement with family and friends — Fubo supports simultaneous streaming on up to 10 devices, so everyone can watch their favorite teams.
You can watch today’s game with a subscription to Sling’s Orange + Blue tier, which includes ESPN, ABC, NBC, and Fox. The plan offers 46 channels with local NFL games, nationally broadcast games, and 50 hours of DVR storage. For complete NFL coverage, add Paramount+ to get CBS games, or upgrade with the Sports Extra add-on for additional sports channels like Golf Channel, NBA TV and NFL RedZone.
Watching NFL games, including Fox broadcasts, is simple with Hulu + Live TV, which includes 90 channels, unlimited DVR storage, and access to NFL preseason games, live regular season games and studio shows. The service includes ESPN+ and Disney+ in the subscription.
Want to watch today’s game live on your smartphone? If so, NFL+ streaming service is the solution you’re looking for. It lets you watch NFL Network and out-of-market games on mobile devices, with an upgrade option to NFL+ Premium that includes NFL RedZone for watching up to eight games simultaneously. Note that NFL+ only works on phones and tablets, not TVs.