Business

Gold settles at record; $2,000 within sight

Font Size:

SAN FRANCISCO (MarketWatch) — Gold futures surged to another record Friday as investors held a dim view of global growth prospects and sought instead the perceived safety of the metal.

Gold for December delivery GC1Z +1.73%  advanced $30.20, or 1.7%, to $1,852.20 an ounce on the Comex division of the New York Mercantile Exchange. It traded as high as $1,881.40 an ounce, an intraday record for the metal.

“We could hit $2,000 as early as next week sometime at this rate, certainly in the next weeks,” said Matt Zeman, head trader and strategist at Kingsview Financial in Chicago.

via Gold settles at record; $2,000 within sight – Metals Stocks – MarketWatch.