Yesterday, gold hit an all-time high price in nominal terms, reaching $3,534/ounce. For those keeping score, that means the value of one dollar has fallen to 1/3534th of an ounce of gold. Reteurs reports:
Gold rose over 1% on Tuesday, surging to an all-time high above $3,500 per ounce, with investors piling into the metal on growing conviction of a Federal Reserve rate cut and lingering political and economic risks.
You can see gold’s rise in the chart below:
Now take a look at gold in inflation-adjusted terms. Prices for the precious metal haven’t been this high since its spike in the 1980s. But prices today are as close as they have ever come to those highs.
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