Gold prices are near record highs amid global geopolitical tensions and an ongoing crisis in the U.S. banking sector.
Gold futures on the New York Mercantile Exchange hit a record high of $2,072 per ounce on May 4. Spot gold price on the day was also within a few cents of its all-time high of $2,072.49, according to Refinitiv, a global financial markets data provider.
Prices have since dropped, and as this article was published, May 11, gold prices were at $2,011.12 per ounce, reported Business Insider. As a way of comparison, in October last year, gold prices averaged $1,664 per ounce, reported data provider Knoema. An average closing price for that year was $1,801.87, according to macrotrends.com….