The price of gold continues to climb as investors clamor to get a bit of the action. The precious metal passed the significant $1,900 mark this morning in spot pricing terms as it continues its climb, evidently on its mission to reach all time highes of $1,921 set in 2011.
The recent climb of the metal is believed to be tied to a number of factors, including continuous money printing by the worlds central banks, endless stimulus, as well as the continued issuance of negative yielding debt. As investors look for any means of finding yield, a currently appreciating asset, especially in the form of a hard metal, is ideal.
The spot price of gold has currently hit a high of $1,906.585 in todays session as per TradingView, while the price of gold futures has gone as high as $1,904.60 at the time of writing. Many pundits, including The Deep Dive’s own @SmallCapSteve are speculating the precious metal to near all time highs today following the break of $1,900.
It should also be noted that contracts outside of the front month on the Comex have crossed into all time high territory, with the December contract climbing as high as $1,933.60.
Information for this briefing was found via TradingView. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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