Gold Prices per ounce hit Record High

Gold Prices per ounce hit Record High ; Gold values surpassed the $1,550 per ounce mark on Friday, with investors continuing to seek an alternative to the ever falling U.S dollar. Furthermore, there is currently no end in sight for the precious metal’s historic rise as interest rates across the country are predicted to remain at a low level for the immediate future, likely resulting in a continued interest in gold as demand remains strong for a safe option against pressures of global inflation.

In figures, the most active June gold rose by 1.6% or $25.20 per ounce, to rest at a record high of $1,556.40 on the New York Mercantile Exchange. Its peak reached $1,569.80 by way of electronic trading following the market’s close. Gold for May gained a total of 1.6% or $25.20 to reach a comparable record of $1,556 which marks the biggest monthly gain by way of both dollar and percentage gain since November 2009.

Industry insiders have cited the increase in demand as a clear vote against the U.S dollar, with commodities becoming a much more stable source of safe cash. A generally easy monetary policy has also contributed to the rise by allowing increasing numbers of speculators join in. Such has also been favored by record low interest rates which have historically encouraged the appeal of interest-resistant precious metals across the board. For the latest updates PRESS CTR + D or visit Stock Market news Today

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