{"id":2315,"date":"2018-02-02T11:01:27","date_gmt":"2018-02-02T11:01:27","guid":{"rendered":"https:\/\/www.ukbullion.com\/blog\/?p=2315"},"modified":"2018-02-02T11:01:27","modified_gmt":"2018-02-02T11:01:27","slug":"happened-gold-price-january","status":"publish","type":"post","link":"https:\/\/www.ukbullion.com\/blog\/happened-gold-price-january\/","title":{"rendered":"What Happened to the Gold Price in January?"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">January recorded a conflicting month for the gold price, which fell slightly in value against a positive showing for sterling but held its ground against other currencies. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Against the backdrop of one of sterling\u2019s best months since June 2016, <a href=\"https:\/\/www.ukbullion.com\/live-chart\/gold\/gbp\"><span class=\"s2\">the price of gold<\/span><\/a> on the first day of 2018 was recorded at heights of \u00a3968.29, and ended the month on \u00a3951.23, a small drop of 1.76 per cent. <\/span><\/p>\n<p class=\"p2\"><span class=\"s1\"><b>A strong month for Sterling<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Sterling recorded both its most impressive one month increase in value since summer 2016, and its <a href=\"http:\/\/www.bbc.co.uk\/news\/business-42661361\"><span class=\"s2\">highest individual prices<\/span><\/a> as the British currency rose above \u00a31.40 against the dollar for the first time since the Brexit referendum in June 2016. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Despite having not yet recovered its pre-referendum highs of \u00a31.49, developments in January bring it closer to this threshold. This is a good sign that investor confidence in the British economy looks to be firming up and even dare we say it potentially increasing after the conclusion of phase one Brexit negotiations. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Against this backdrop, it is harder for gold to perform as well against sterling as it has against currencies like the dollar. The small decrease in gold value against the pound of 1.76 per cent across January remains a modestly promising sign for the commodity, when judged against the increase of 5.26 per cent in sterling\u2019s value against the dollar. <\/span><\/p>\n<p class=\"p2\"><span class=\"s1\"><b>Tracking the January gold price<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The highest gold price on the opening day of January was recorded at \u00a3968.29 per ounce. This increased steadily across the first 12 days of the month, reaching \u00a3973.29 on the 4<\/span><span class=\"s3\"><sup>th<\/sup><\/span><span class=\"s1\"> January and further increasing to \u00a3981.31 on the 12<\/span><span class=\"s3\"><sup>th<\/sup><\/span><span class=\"s1\">. The safe haven phenomenon bolstered gold against multiple currencies as <a href=\"https:\/\/uk.reuters.com\/article\/global-precious\/precious-gold-set-for-5th-week-of-gains-palladium-hits-record-idUKL4N1P738X\"><span class=\"s2\">Trump\u2019s scepticism of the 2015 nuclear deal with Iran led to sanctions being waived for this year<\/span><\/a>. <a href=\"https:\/\/uk.reuters.com\/article\/global-precious\/precious-gold-hits-near-4-month-high-as-dollar-slides-on-china-report-idUKL4N1P531X\"><span class=\"s2\">Concerns in the stability of the dollar and the overall American economy<\/span><\/a> continued through January, with chaos shaking investors\u2019 resolve when the government was briefly shut down.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">In later weeks, gold fell against a strengthening pound, sinking to \u00a3955.14 on the 18<\/span><span class=\"s3\"><sup>th<\/sup><\/span><span class=\"s1\"> of January and \u00a3948.74 on the 25<\/span><span class=\"s3\"><sup>th<\/sup><\/span><span class=\"s1\">. <\/span><\/p>\n<p class=\"p2\"><span class=\"s1\"><b>What does this mean for the price of your gold coins?<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Despite the overall gold market showing promising resolve at the start of 2018, the individual prices against sterling are less impressive. Of course \u2013 it\u2019s all relative; the roughly \u00a3950 you\u2019d get for a troy ounce of gold at the end of January is worth more in real terms than if you\u2019d gotten the equivalent amount of sterling this time a month ago. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Nonetheless the gold price has dipped, perhaps making this a good time to buy gold as the international strength of the commodity signals it remains a stable and reliable investment, while the comparatively cheaper prices in the UK mean you\u2019d get a good price for your investment if you were to buy today. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">UKBullion have a huge range of gold bullion products from <a href=\"https:\/\/www.ukbullion.com\/gold\/gold-bars.html\"><span class=\"s2\">gold bars<\/span><\/a> to <a href=\"https:\/\/www.ukbullion.com\/gold\/buy-gold-coins.html\"><span class=\"s2\">gold coins<\/span><\/a><\/span><span class=\"s2\">.<\/span><span class=\"s1\"> Start browsing our site today and see where your gold investment takes you.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>January recorded a conflicting month for the gold price, which fell slightly in value against a positive showing for sterling but held its ground against other currencies. Against the backdrop of one of sterling\u2019s best months since June 2016, the price of gold on the first day of 2018 was recorded at heights of \u00a3968.29, and ended the month on \u00a3951.23, a small drop of 1.76 per cent. A strong month for Sterling Sterling recorded both its most impressive one month increase in value since summer 2016, and its highest individual prices as the British currency rose above \u00a31.40 against the dollar for the first time since the Brexit referendum in June 2016. Despite having not yet recovered its pre-referendum highs of \u00a31.49, developments in January bring it closer to this threshold. This is a good sign that investor confidence..<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[279],"tags":[38,37,106],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Happened to the Gold Price in January? - UKBullion Blog<\/title>\n<meta name=\"description\" content=\"What happened to the gold price in January? Is your gold bullion investment up or down? What effect has a strengthened sterling had on the UK gold prices? 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