Gold on track for $5,000 as precious metal hits new record high to nudge $4,300 for first time
From thisismoney.co.uk
The price of gold soared towards $4,300 for the first time yesterday – fuelling speculation it could rise as high as $5,000. Bullion hit $4,295 an ounce, taking gains for the year to 64 per cent, while silver also hit a record $54 an ounce. Analysts suggested gold could be on the way to $5,000 as nervous investors look for somewhere safe to park their cash while others pile in, in what has been described as ‘gold-plated FOMO’ – or ‘fear of missing out’. ‘Another day, another record high,’ said David Morrison, analyst at Trade Nation. ‘Gold’s unbroken rally showed no signs of fatigue as prices pushed to yet another ...
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