To the Point
Gold and Silver Prices Near Record Highs
The big banks for precious metals have been meeting daily to set prices since 1897. Now, gold has set an all-time record of $1518.20 an ounce, and silver's approaching the so-called "psychological barrier" of $50 an ounce. Both approached record highs today and then dropped off a bit as the dollar increased in value.
By Warren Olney • • 1 min readThe big banks for precious metals have been meeting daily to set prices since 1897. Now, gold has set an all-time record of $1518.20 an ounce, and silver's approaching the so-called "psychological barrier" of $50 an ounce. Both approached record highs today and then dropped off a bit as the dollar increased in value. Peter Coy is Economics Editor for Bloomberg BusinessWeek.
