Thousand Dollar Gold

With gold futures rallying above the $1,000-psychological mark this morning, here is a look at how bullion has traded in the past thirty years:

Intraday Levels

  • Comex gold for December delivery hit an intraday high of $1,009.7 per troy ounce this morning, its highest level since 3/18/2008

  • The highest intraday price for gold was reached on 3/17/08, when gold futures traded as high as $1,033.9

  • Gold future prices have crossed above the $1,000-mark only 6 times in their trading history (including today)

Closing Levels

  • Comex gold futures have closed above $1,000 an ounce only 3 times since they started trading

  • The highest close for gold on its trading history was reached on 3/18/2008, when it closed at $1,004.3

  • In 2009, the highest close for gold was reached on 2/20/2009, when gold futures closed at $1,002.2
  • The lowest close for gold in 2009 was reached on 1/15/2009, when gold futures closed at $807.3
  • Since its lowest close this year, the price of gold is up about 24%

  • Year-to-date, gold prices are up nearly 13%

Inflation Adjusted

Looking back at gold prices in relation to the current levels, bullion traded at its highest value in January 1980, when it reached a high of $784 per troy ounce. Accounting for inflation, the price of gold then would stand at about $2,049 per troy ounce today.

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Some of the companies that are gaining on the news include:

  • Barrick Gold
  • Rangold Resources
  • Compania De Minas Buenaventura
  • Kinross Gold
  • Harmony Gold Mining

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