Markets

The gold price in dizzying heights

DSome gold investors are currently looking at September 2011. Back in the midst of the financial and euro crisis, when investors worried about Greece going bankrupt or even a collapse of Europe’s banks, the gold price reached its highest level ever. The troy ounce (31.1 grams) was trading at $ 1900.20 at the close on September 5, 2011. This was long the highest closing price ever. In the course of trading the following day, the gold price briefly reached $ 1921.17 – the highest intraday rate in the history of gold.

Now the price of the shiny precious metal has exceeded $ 1900 on Friday and is not that far from the intraday record of 2011. The troy ounce temporarily cost $ 1904.60 on Friday afternoon. Some futures contracts even surpassed the old record high. The investment bank Goldman Sachs was one of the few that had already predicted at the beginning of the Corona crisis that the old record high of gold nine years ago could now be reached again. The rapid development on Friday was boosted by stock market veteran Mark Mobius. The prominent fund manager was quoted as saying that he would buy gold now and would not stop there – because the precious metal really had “one run”.

Tags

Related Articles

Back to top button
Close
Close