Connect with us

Headlines

Gold Prices Hit Record Highs

Some analysts say the $2,000 mark is within reach.

mm

Published

on

Gold prices approached $2,000 an ounce this week in what CBS called “a sign that nervous investors were looking for safe havens” for their money.

August gold futures settled at $1,931 on Monday and $1,960.30 on Tuesday. Some analysts say the $2,000 mark is within reach.

“With concerns about further pandemic-related lockdowns, the U.S. dollar decline, real rates continuing to plummet, and rising U.S.-China tensions, it is the entire list of fundamental drivers to get us there getting delivered up in one package today,” Stephen Innes, AxiCorp.’s chief global markets strategist, wrote in a note to investors.

CBS News quoted Hans Gunther Ritter, head of trading for Heraeus Precious Metals, saying: “The current environment with U.S. dollar weakness, Covid-19 crisis and increased US-Sino tensions has the potential to move [gold] prices further up and to test the $2,000 mark.”

Still, on accounting for inflation, gold prices are not currently quite as high as they were in September 2011. To reach that point, they’d need to hit $2,135, CBS News explains.

Read more at CBS News

Advertisement

Advertisement

SPONSORED VIDEO

When the Kids Have Their Own Careers, Wilkerson Can Help You to Retire

Alex and Gladys Rysman are the third generation to run Romm Jewelers in Brockton, Mass. And after many decades of service to the industry and their community, it was time to close the store and take advantage of some downtime. With three grown children who each had their own careers outside of the industry, they decided to call Wilkerson. Then, the Rysmans did what every jeweler should do: They called other retailers and asked about their own Wilkerson experience. “They all told us what a great experience it was and that’s what made us go with Wilkerson.” says Gladys Rysman. The results? Alex Rysman says he was impressed. “We exceeded whatever I expected to do by a large margin.”

Promoted Headlines

Most Popular