Gold prices have climbed to their highest levels in nearly nine years, with the precious metal seen as a ‘weapon of choice’ for gold investors dealing with pandemic-related uncertainty in the stock market, clearing the path to a fresh record in the second half of the year.
In Wednesday trading, the most-active August gold futures contract
was up $13.20, or 0.7%, at $1,823.10 an ounce after tapping a high of $1,829.80. Futures prices haven’t traded or settled at levels this high since September 2011.
The settlement record for most-active gold futures stands at $1,891.90 from Aug. 22, 2011, based on records going back to…