The price of gold keeps climbing to unprecedented heights. Here’s why

Published September 25, 2024 10:11 AM

AP Business Writer

NEW YORK (AP) — The rush for gold just keeps coming. Gold hit another all time high this week. The New York spot price of gold closed Tuesday at just over $2,657 per Troy ounce — the standard for measuring precious metals. That’s the highest recorded to date, up nearly $145 from a month ago and more than $740 from this time in 2023. Recent gains are largely credited to ongoing economic uncertainity, geopolitical tensions and strong demand from central banks around the world. Analysts have bullish outlooks on the price of gold for the months ahead. But, as a volatile commodity, the future is never promised.

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