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History was made once again today with gold surging to its highest closing price in history. As of 5:50 PM EDT, gold futures are up over 2%, a net gain of $51.70 fixing a troy ounce at $2546.20. This marks the fourth occasion in which gold challenged and successfully closed at a higher high than the previous record high close **.
According to MarketWatch, “Prices for gold on Friday tallied their 28th all-time settlement high for the year so far, with the precious metal finding support as market volatility this month attracted buyers to the “safety” of gold.” Speaking to MarketWatch he said that Western gold buyers have joined the gold buyers, and it is this fact that is cushioning selloffs. The bottom line is that the appetite for gold has become massive and global.
**Prices were adjusted for contract change in this continuous contract now representing December gold
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