Gold prices hit record highs again Monday as the penultimate week of September began, extending gains in a month already shaping to be one of the precious metal’s best for this year.
By 10:00 US Eastern Time (14:00 GMT), the spot price of gold, which reflects trades in bullion, was up $51.90, or 1.4%, at $3,757.70. It earlier hit a record high of 3,728.43.
Benchmark US gold futures for December delivery on New York’s Comex hit a record high of 3,762.90 before consolidating to trade at 3,753.92, up 48.12, or 1.3%.
Spot and futures of gold have hit record highs multiple times in September on optimism that the Federal Reserve’s inaugural rate cut of 25 basis points for 2025 has started a window of monetary easing that could unleash a flood of safe-haven demand from global central banks to mom-and-pop investors.
For this month alone, spot has risen about 8% and futures about 7%, bringing annual gains for both to above 42%.
Image credit: Jingming Pan
Gold just keeps its value. But paper currencies devalue vast. This explain so called ” high” prices of gold
Paper is poverty, it is only the ghost of money, and not money itself.” — Quote by Thomas Jefferson.
Knowing that gold and silver are money and everything else is credit/debt, why has the RBNZ not got any gold holdings?
The author should have stipulated that the prices were in US$. Gold in NZ$ is $6422.72.
It’s not the price of gold going up – it’s the value of your currency going down.
The only measure of gold is by weight at sea level not US$. Merely because the value of US$ and gold price changes by the second while weight at sea level remains the same. I don’t accept the word claims either. It’s not an absolute.
Gold or anything would weigh about .2 to .3% less on the top of Mt Everest. i.e. the farther you are away from earths centre the weaker earths gravitational pull is.
New Zealand claims to have zero gold reserves.
America claims to have 8,133.52 tons of gold reserves.
Hard to believe both claims.
Wondering when the last audit took place.
https://www.msn.com/en-us/news/politics/whatever-happened-to-president-trumps-plan-to-inspect-the-gold-at-fort-knox/ar-AA1G1q7n
https://goldsurvivalguide.co.nz/how-much-gold-does-the-reserve-bank-of-new-zealand-have/#h-how-does-new-zealand-compare-to-the-leading-gold-holding-nations
I can assure you, more valuable than gold is quality of life. Just ask any old person in a rest home. They place the value of gold at zero.
https://rumble.com/v6z3f6g-what-the-genius-act-will-soon-bring-greg-reese.html?e9s=src_v1_s%2Csrc_v1_s_m&sci=c4832956-0134-49a1-be0a-8d4788611f2c