Singapore is the home of bullion, with more of the world’s best bullion dealers and bullion storage vaults in this country than in any other. This is where the rest of the world goes to get its gold and silver bars and coins, and in an increasingly unstable world, precious metals are looking like a more viable investment choice everyday. The price of gold or silver has yet to go through the roof, as many investors and experts have been predicting, but if it’s true that you can predict the future by looking at the past, then you might be able to tell where the gold and silver price will be in the immediate future by looking at the immediate past.
Gold Price: Last 30 Days
On the 5th of June, 2015, gold closed at a value of 1,584,64 Singapore Dollars an ounce, which equated to 50,95 a gram. This was slightly down from the price on the 5th of May, but only by a fraction, and the price of gold had been on a roller coaster ride between these two days, with May 5th and June 5th serving as the beginning and end of that roller coaster.
The highest point for gold in the last thirty days was on May 18th, when it was just shy of 1,630 per troy ounce. It took two weeks for it to fall back to the price that it was at the close of play on the 5th June, but it wasn’t all downhill in that time. There was a rise from the end of May and through the beginning of June, with many investors hoping that it would stick and that gold would clammer back above the 1,620 mark, but it soon dropped again.
Predicting patterns is never an easy thing to do and there is also no guarantee, but looking at these figures there is a good chance that the next week or so could see a rise in the price of gold, albeit slight, before it settles itself at a steady price after that. Our prediction from the price of gold come July 5th, is that it will have clawed its way above 1,620 and will remain there for a short time, going no higher than 1,630.
Silver Price: Last 30 Days
Silver is a very volatile metal, which is why many investors choose gold instead. In fact, the volatility of the silver markets, and the fact that it can rise and drop heavily from one day to the next, is what draws many traders to silver in the first place. If you want to take a risk in the precious metal industry it seems, then you should get your money into silver. That has certainly been the case over the long haul, with silver going through some huge rises and falls over the last few decades, but in the last four weeks we have seen no volatility.
The price of silver at the close of play on June 5th was 21,89 Singapore Dollars for troy ounce, and 0.70 per gram. The highest it has been in the last thirty days was only 21,91, whilst the lowest was 21,73. The price of this precious metal over the last 20 days was basically just a flat-line, and one that seemed to edge towards the upper end near the end of that particular time-span.
This is unlikely to continue as silver seems to be due a sudden jump or fall. It is hard to predict which way this will go, but if we were to make a prediction for five years from now then we would say that silver would be at least twice what it is now. If we were to predict 30 days from now, we would say that it won’t go lower than 21,50, but it could end up as more than 25,00.