Gold Sets New Record, Again Nears Platinum

The spot price of gold hit a new record of $1,829 an ounce on Aug. 18, and again pulled close to its traditionally more expensive sister metal, platinum.

At press time, gold’s price had settled down to $1,816.

Gold temporarily topped the price of platinum on Aug. 19, shocking the industry. At press time, the two metals were nearing parity, with platinum trading at $1,840.

Gold first crossed the $1,800 barrier on Aug. 10. But it soon fell from that level and spent most of the intervening days trading above $1,700.

Analysts linked the metal’s continued rise to uncertainty over the economies in Europe and U.S.