Gold Prices Near Record Highs as US Banking Crisis Continues

Gold prices are near record highs amid global geopolitical tensions and an ongoing crisis in the U.S. banking sector.
Gold futures on the New York Mercantile Exchange hit a record high of $2,072 per ounce on May 4. Spot gold price on the day was also within a few cents of its all-time high of $2,072.49, according to Refinitiv, a global financial markets data provider.
Prices have since dropped, and as this article was published, May 11, gold prices were at $2,011.12 per ounce, reported Business Insider. As a way of comparison, in October last year, gold prices averaged $1,664 per ounce, reported data provider Knoema. An average closing price for that year was $1,801.87, according to macrotrends.com….