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New tailwind pushes gold price closer to record highs – Motley Fool Australia
The spot gold price surged to its highest level since 2011 on Friday and a new tailwind is likely to lift it above its all-time record high.
The spot gold price surged to its highest level since 2011 on Friday, and a new tailwind is likely to lift it above its all-time record high.
The precious metal jumped another 0.8% at the end of the week to US$1,902 an ounce and is now less than US$20 away from its peak of US$1,921 per ounce, which was set nine years ago.
While many of the factors supporting the surging gold price have been well documented, the tailwind that has driven the gold price above the psychologically important US$1,90…
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