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Gold on track for $5,000 as precious metal hits new record high to nudge $4,300 for first time
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 ... (full story)
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