The price of gold reached a record high on Monday, reportedly trading at $2,135 per ounce.
This marks an increase of $63 from gold’s previously August 2020 high of $2,072 per ounce.
“The expectations of the end of the tightening cycle have been priced in, pushing longer-term yields lower,” said Sucden Financial’s Daria Efanova. “This has created a more favorable environment for gold as a non-yielding asset.”
However, the price of gold fell back to $2,023 per ounce by midday Monday.
