Trading of gold is near its all-time high of $2,072.50 per ounce in the United States.
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| Gold bar. Image: Collected |
The price of gold in the United States is currently $2,042.17 per ounce, as of 1:00 PM EST on November 30, 2023. The price of gold has been volatile in recent months, but it is currently trading near its all-time high of $2,072.50 per ounce, which was set in August 2020.
There are a number of factors that are affecting the price of gold in the USA, including:
The war in Ukraine: The war in Ukraine has created a great deal of uncertainty in the global economy, which has led investors to seek safe-haven assets like gold.
Rising inflation: Inflation is rising in the USA and around the world, which is also making gold more attractive to investors.
The US dollar: The US dollar is the world's reserve currency, and when the US dollar is weak, it makes gold more attractive to investors who are looking for a hedge against currency fluctuations.
The outlook for the price of gold in the USA is mixed. Some analysts believe that the price of gold could continue to rise as investors seek safe havens from the war in Ukraine and rising inflation. Other analysts believe that the price of gold could fall if the war in Ukraine ends or if inflation eases.
Overall, the price of gold is likely to remain volatile in the near term. Investors should watch closely for news from the war in Ukraine, the Federal Reserve, and other central banks for clues about the future direction of the price of gold.**