Since China is a major international gold hub, the economic data concerns investors and has resulted in a lower gold price on March 22 – the lowest it has been since January.
Gold rose to an intraday high of $1,656.60 per ounce ahead of the reading on China's purchasing managers' index before slipping into negative territory. The day ended with gold setting at $1,648.30, down $1.80 from its previous day’s close.
“There has been some weakened investor sentiment over gold due to the Chinese situation,” said Chadwick Hopkins, CEO of C.D Hopkins Metals Division, a leading precious metal retailer based in Los Angeles, Calif. “But for the most part, we at C.D Hopkins understand that there is inherent volatility in the precious metals market. We remain optimistic and bullish on gold.”
Hopkins said many investors don’t often realize that a drop in gold price can represent a great time to enter the precious metals market. “There is a chance to profit later when prices cycle back upward – and we’re confident that they will,” said Hopkins.
The silver outlook does not appear to be as affected by China’s economic struggle as its more popular sibling – gold bullion. However, the price of silver fell slightly on March 22 to $32.03 per ounce.
The prices of platinum and palladium were also down on March 22 – but for those metals, the demand in China could increase, as platinum and palladium are both used as auto catalysts.
Investors who wish to learn more about how to profit from precious metals while prices are lower can receive expert advice from the independent dealers at C.D Hopkins Metals Division.
C.D Hopkins Metals Division will teach investors how to properly enter the precious metals market. The first step is opening an account with C.D Hopkins Metals Division, then purchasing metals for immediate personal delivery or arrange for convenient storage at an independent bank or depository.
To learn more about how to buy gold bullion with C.D Hopkins, visit http://www.cdhopkinsmetals.com/
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About C.D Hopkins Metals Division
C.D Hopkins Metals Division is a leading precious metals dealer and financing institution located in Los Angeles, Calif., specializing in gold, silver, platinum and palladium. With a C.D Hopkins Metals Division account, you can purchase precious metals for immediate personal delivery or arrange for convenient storage at an independent bank or depository. C.D Hopkins offers options for financing and selling your precious metals and expert account representatives to fulfill your investing needs. To find out how to open an account, visit http://www.cdhopkinsmetals.com/