By Erika W.
The price of gold edged closer to $1,900 an ounce on August 22 with a record spot price of $1,894. In a July interview with Bloomberg, John Taylor, founder of FX Concepts LLC, predicted gold prices will reach $1,900 an ounce by October.
Read more about rising gold prices.
Comex gold futures prices came within a whisker of $1,900.00 an ounce Monday, and closed the day session sharply higher and near the new all-time record high of $1,898.60 an ounce.
Gold’s rally to a record near $1,900 an ounce pushed the metal to overbought levels according to technical analysis tools, as economist Dennis Gartman said prices will go “parabolic.”
The price of gold has hit an all-time high of nearly $1,900 per ounce, and with the soaring prices comes a rise in thefts.
Gold ended at a record amid speculation that the U.S. won’t be able to resist another round of stimulus and amid broader worries about the global economy.