What Happened to the Gold Price in February?

Over the course of February, the gold price continued to mark low volatility, with a small upturn in value. After opening at the beginning the month at £944.44, the commodity experienced mild fluctuations, before opening on the final day of the month at £954.01.

Overall, the price rose by 1.01 per cent over February, signalling that the gold market remains a reliable investment against a variety of economic factors that would seek to threaten it. Here’s what you need to know.

Early upturn in gold price

After beginning the month at £944.44, the gold price rose over the first six days of the month, peaking at £959.67 on the 6th. The first days saw similarly subdued values as the end of January, before poor performance in global equities saw investors return to gold as a safe-haven.

US economy beats expectations

This peak was quickly reversed as gold marked a sharp drop in the space of two days, as the price fell to the month’s lowest value of £937.00. The drop coincided with investment faith returning to the dollar after American economic statistics showed better than expected performance.

Gold rebounds, dollar dips

The positive outlook for the dollar was not to last however, as further data revealed that the retail sector underperformed on expectations. On the 14th of February, gold rose once again in value, hitting a monthly high of £964.64 at close.

Low volatility as February ends

The gold price dipped from its peak over the latter half of February. It fell to £948.48 on the 23rd before rising once again in the final days of the month to £954.01, and £951.14 at open on the 28th of February.

What does this mean for the price of your gold coins and gold bars?

Despite continuing fears of a rise in US Federal Reserve interest rates, the gold price remains firm against Sterling, and looks set to continue making modest gains over the coming months.

Many investors will see this combination of low prices and positive outlook as a good time to invest in the gold market. If you agree, then take a look through our range of gold bars and gold coins to find out more about your gold investment portfolio.

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