Steve Rand
General Manager / Sr. Precious Metals Advisor
Steve Rand is the General Manager and a Sr. Precious Metals Advisor at Scottsdale Bullion & Coin. He brings over 20 years of experience in the physical precious metals markets.
Did you ever think the spot price of gold would soar so high that $1,876.32 an ounce would be considered a pullback? A short-lived one at that. By Thursday afternoon, spot gold prices were already back up to $1,940 an ounce—well above the prior all-time high of $1,917.90 an ounce in 2011.
Did you know gold’s 2011 high was a rebound too? It was. And those who rode out gold’s 2008 pullback saw a 155% increase in the value of their investment.
Did you know that if you walked into a gold and silver dealer right now and asked to buy a Saint-Gaudens gold double eagle, you might be out of luck? What about an MS-65 or MS-66 Morgan silver dollar? Same story.
Why? Watch the video above. See why spot prices shouldn’t drive precious metals investment decisions.
