LOS ANGELES, Oct. 17, 2016 /PRNewswire/ -- The price of gold reached its biggest weekly decline in three years last week, as option traders expect the yellow metal to be nearing a bottom. Capital Gold Group has found that the retracement of the price of gold has been an appealing entry level for many investors.
"Even though we're seeing a decline in precious metal prices this past week, we're actually seeing a higher demand for physical metals than usual." said Jonathan Rose, CEO of Capital Gold Group. "This is evident by rising premiums on particular U.S. minted products, such as proof gold American Eagles and 90% silver bags."
Capital Gold Group touts higher premiums on these coins as the U.S. Mint distributor works overtime to keep them in supply.
In a market survey study conducted by Capital Gold Group, 1,000 participants were asked why they would be purchasing precious metals in this current market. The overwhelming majority cited Safety and Security as a primary reason, followed by Election Volatility and Safeguarding their IRA retirement accounts.
*Disclaimer: 1,000 participants were asked to check a box based on questions Capital Gold Group pre-selected. And asked to mark or rank in order of importance pertaining to the reasons to be purchasing gold or precious metals. Results were tabulated by asking participants these five questions and having them ranked in order of importance.
Rose cites that, "Our internal market study is a helpful insight into the mind of gold and precious metal investors. Strong indicators are apparent that people are looking for safety and security, whether by holding onto precious metals or rolling individual retirement accounts into a precious metals IRA."
"Coming into the fall months, we are expecting an increase in the price of precious metals," said Daniel Fisher, President of Physical Gold Limited in the UK. "Starting with the Diwali Festival in India, which has always been the largest consumer market for gold."
"Ultimately, gold is an integral part of a balanced portfolio and I'm in favor of buying the dips." agreed Rose. "With a slight retracement in precious metals, the buying signs are definitely flashing."
With the presidential election looming, and hints of an interest rate hike in December, all eyes will be on the yellow metal to see how the markets will react.
To choose a reputable gold dealer, Rose recommends looking for a company that is a U.S. Mint distributor, has an A+ rating with the Better Business Bureau, and a stellar name within the industry. Capital Gold Group is a buyer and seller of precious metals, and helps clients set up precious metals IRAs every day, where clients can roll over their existing IRA tax-free and store their precious metals.
About Capital Gold Group Inc.
Capital Gold Group Inc. is a global leader in GOLD IRA retirement accounts and physical delivery metals. CEO Jonathan Rose is an international registered financial consultant with a Series 3 commodity license. Mr. Rose has lectured in London, Singapore, Hong Kong, Malaysia and at the Financial Advisor Symposium in America on the benefits of Precious Metals for portfolio diversification.
CONTACT: Kimiya Manoochehri (800) 510-9594 x 260
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SOURCE Capital Gold Group