Gold Closes At Record High


Gold on Monday rose above $1,350 an ounce, overcoming a wobbly start to post its 15th record in a little over a month. Gold for December delivery advanced $9.10, or 0.7%, to settle at $1,354.40 an ounce on the Comex division of the New York Mercantile Exchange. Silver soared to a fresh 30-year high and copper posted its best settlement since July 2008.

(Source: MarketWatch)


  1. If you adjust for inflation, it was higher in the 1980s.

    Since (in a repeat of the early 1930s) the US is trying to devalue its currency (via massive printing of money), and the other major countries are trying to keep up – it isn’t a surprise that gold is raising in price relative to the American dollar. Some currencies are gaining rapidly on the dollar (e.g. Australian Dollar, Swiss Frank) since those countries aren’t printing currency fast enough (or at all) to keep up with the U.S.

    The headline might better ready “dollar sinks to new low”.