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Gold shoots $40 higher to fresh record above $1,900

July 27, 2020

Gold prices hit a fresh record on Monday, as investors continued to fret over the state of the COVID-19 battered global economy and amid concerns over the sticking power of stock gains.

August gold GC00, 2.13% GCQ20, 2.12% surged $40.90, or 2.1%, to $1,938.10 an ounce. That took it past the record most-active intraday level of $1,923.70 an ounce from Sept. 6, 2011.

On Friday, the contract climbed $7.50 to settle at $1,897.50 an ounce on Comex, after trading as high as $1,904.60. That action took out a most-active contract settlement record of $1,891.90 from August 22, 2011, based on records going back to November 1984, according to Dow Jones Market Data.

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