Gold Price Crosses $1,300 in Surprise Rebound

The price of gold, which had been heading downwards of late, recrossed the $1,300 benchmark on July 22.

At press time, the yellow metal was trading at $1,328 an ounce. The metal jumped $35 over the course of the day, which analysts attributed to the Federal Reserve’s decision not to drop its tight money controls. 

Gold is still down for the year. On Jan. 1, it was trading at $1,693 an ounce. But it has gained a slight amount of ground in the past 30 days. 

The widely-followed metal has been on a roller-coaster ride over the past year, showing two sharp dips in April and June. At one point last month, it fell below another benchmark—$1,200.

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JCK News Director