Gold prices are likely to continue their upward journey as investors know that the gold price has broken significant resistance. This resistance level, formed in 2011, reached an all-time high at $1921. As of today, the gold price is trading at $1943 and has reached as far as $1981. The gold price is up nearly 28% YTD.
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Prices are up 27 percent this year, as the Fed’s policies drive investors to hold more gold.
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The settlement price for gold futures reached a record high of $1,931 per ounce Monday — and many analysts predict the price will head even higher.
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and producers of the precious metal have seen outsized gains.
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