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Gold Prices Hit Record High Monday

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Gold Prices Hit Record High Monday

Business

Gold Prices Hit Record High Monday

Gold Prices Hit Record High Monday

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  • Transcript

Gold prices have soared this year — largely because the U.S. dollar has gotten weaker. Investors have been looking at gold as a better bet than the dollar. And the expectation is that the dollar will stay weak because of low U.S. interest rates. That means investors — including governments — will likely continue pouring their money into the gold market.

RENEE MONTAGNE, host:

NPR's business news starts with gold more precious by the day.

(Soundbite of music)

MONTAGNE: Gold prices hit a record high today. Future's contracts for the precious metal traded at $1,167 an ounce. It could hit $1,200 more quickly than some traders were expecting. Gold prices have soared this year, largely because the dollar has gotten weaker. Investors have been looking at gold as a better bet than the dollar. And the expectation is that the dollar will stay weak because of low U.S. interest rates. That means that investors, including governments, will likely continue pouring money into the gold market.

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