(Kitco News) – After one of the strongest and steadiest price climbs of the year this past week on its way to fresh record-setting highs, and with domestic and international tensions supporting uncertainty, it’s no surprise that market participants see nothing but blue skies ahead for gold.
Spot gold kicked off the week trading in the low $2,650s, spiking as high as $2,665 per ounce in the early morning and starting the North American trading session at $2,659 per ounce on Monday. After a relatively uneventful day, the last the yellow metal would see this week, it slid to the weekly low below $2,640 per ounce just after 1:00 a.m. on Tuesday before recovering to trade at $2,651 by the North American open.
After that, the yellow metal began its relentless march higher, setting a fresh weekly high of $2,668 per ounce at noon on Tuesday before breaking through the $2,670 level just before 2 a.m., and setting a fresh high of $2,684 at the North American open on Wednesday.
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