Gold Price Hits All-Time High, Silver Prices Expected To Soar

On Monday morning the price of gold has hit a new all-time high of over $1,600 per ounce, as the price of silver has been going up as well and is expected to gain in strength.

The eleven-day rise in gold price has been the longest growing streak since January 1980. The gold price climbed 3.2% last week on the way to its record high.

According to Gold Alert, with Monday’s advance, the gold price extended its monthly and year-to-date gains to 6.6% and 12.5%, respectively.

Silver gained $0.80, bringing it to $40.11 per ounce. Silver rose 6.6% last week, reaching a ten-week high. The silver price has reached 14.5% in June and 28.5% in the current year. The Philadelphia Gold & Silver Index (XAU) posted a weekly gain of 4.3%, while  Newmont Mining (NEM) and Randgold Resources (GOLD), climbed 4.7% and 5.1%, respectively.

“Silver is looking reasonably good in the second half, as prices have been basing around $35, and is not losing momentum any more,” said Australia & New Zealand Banking global head (commodity research) Mark Pervan.

“I usually buy gold and silver jewelry at the time of the Diwali festival,” said Vikram Patil, a cotton farmer from Jalgaon, Maharashtra. “If my earnings improve, I will invest more in jewelry,” Patil added.

While you're here - did you know NFS members get 1000's of discounts to stores, restaurants, hotels, rental cars, amusement parks and more? And the cool thing is that you can join for free! Click Here Learn More
It's Nice To Share!
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
- To link to this page, copy & paste -
Gold Price Hits All-Time High, Silver Prices Expected To Soar
Or use the shortURL: https://n4s.us/5692
avatar
Ariel is a full-time university student currently studying English and Business. Ariel loves to write about electronics, fashion, and entertainment news, and is currently in the process of writing a preteen horror novel.