{"id":2328763,"date":"2024-08-21T19:45:55","date_gmt":"2024-08-21T23:45:55","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gold-just-hit-a-record-high-amid-tense-world-situation-could-soon-go-much-higher\/"},"modified":"2024-08-21T19:53:20","modified_gmt":"2024-08-21T23:53:20","slug":"gold-just-hit-a-record-high-amid-tense-world-situation-could-soon-go-much-higher","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gold-just-hit-a-record-high-amid-tense-world-situation-could-soon-go-much-higher\/","title":{"rendered":"Gold Just Hit a Record High Amid Tense World Situation, Could Soon Go Much Higher"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fgold-just-hit-a-record-high-amid-tense-world-situation-could-soon-go-much-higher%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2328763&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The article discusses the\u2063 recent \u200bsurge in\u2062 gold prices, reaching an all-time high\u2063 of \u2063over $2,514 per Troy ounce. This increase of nearly $620 \u2064compared to \u200bthe <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ted-cruz-manages-to-trigger-leftists-by-doing-something-millions-of-americans-do-every-year\/\" title=\"Ted Cruz Manages To Trigger Leftists by Doing Something Millions of Americans Do Every Year\">previous year<\/a> is attributed to\u200d several factors, including concerns about inflation, the U.S. dollar&#8217;s strength, and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/taiwan-blasts-musk-after-he-calls-country-integral-part-of-china\/\" title=\"Taiwan criticizes Musk for labeling it as part of China.\">ongoing geopolitical tensions<\/a>, particularly the wars in Ukraine \u200band Gaza. Central bank demand for gold is\u200d currently \u200bhigher than the five<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/californias-population-shrinks-for-the-first-time-ever-in-2020\/\" title=\"California\u2019s Population Shrinks For The First Time Ever In 2020\">-year average<\/a>, indicating heightened economic instability.<\/p>\n<p>Investing in\u2064 gold \u200dis often viewed as \u2064a &#8220;safe haven,&#8221; helping to diversify portfolios and serve as a\u2064 buffer against financial uncertainties.\u200c However, critics argue that \u200dgold is not always\u200d an effective inflation hedge and can be volatile, leading to \u200dprofits primarily \u2062for sellers during <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-gender-identity-more-valuable-to-pandemic-response-than-economic-anxiety\/\" title=\"Biden Admin: Gender Identity More Valuable to Pandemic Response Than Economic Anxiety\">economic anxiety<\/a>. The Commodity Futures \u200cTrade Commission warns \u2063investors\u2063 to remain\u200c cautious and informed about potential scams and counterfeits in\u2064 the market. the article highlights both the appeal and risks of investing in gold\u200c amid\u2062 current economic conditions.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<section>\n<p>A gold rush is here. The precious metal hit an all time high this week.<\/p>\n<p>The spot price for gold closed Tuesday above $2,514. That&rsquo;s the highest closing price recorded for the commodity to date.<\/p>\n<p>The spot price of gold closed Tuesday at just over $2,514 per Troy ounce &mdash; the standard for measuring <a href=\"https:\/\/www.westernjournal.com\/2m-gold-treasure-stolen-church-brooklyn\/\" target=\"_blank\" rel=\"noopener\">precious metals<\/a>, which is equivalent to 31 grams. That would make a gold bar or brick weighing 400 Troy ounces worth more than $1 million today.<\/p>\n<p>This week&rsquo;s record high means that the price of gold has climbed hundreds of dollars per Troy ounce over the last year. Tuesday&rsquo;s price is up nearly $620 from this time in 2023.<\/p>\n<p>There are a few factors behind the recent gains.<\/p>\n<p>  <script> \t\t\t\tif( ! getCookie( 'ff_subbed' ) ) if( typeof FFADS.replace_ict !='undefined' ) if( FFADS.replace_ict ) eval( FFADS.replace_ict ); \t\t\t<\/script> <\/p>\n<p>Interest in buying gold often comes at times of uncertainty &mdash; with potential concerns around inflation and the strength of the U.S. dollar, for example, causing some to look for alternative places to park their money. Gold also saw a surge in the early days of the <a href=\"https:\/\/www.westernjournal.com\/new-study-shows-covid-vaccines-may-increased-excess-deaths-since-pandemic\/\" target=\"_blank\" rel=\"noopener\">COVID-19 pandemic<\/a>.<\/p>\n<p>Joe Cavatoni, senior market strategist at the World Gold Council, noted current demand from <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fed-inches-closer-to-developing-central-bank-digital-currency\/\" title=\"Fed Inches Closer to Developing Central Bank Digital Currency\">central banks<\/a> is well above the five-year average &mdash; reflecting heightened concern with inflation and economic stability. He also pointed to ongoing geopolitical tensions, among other factors, that have caused some to buy gold.<\/p>\n<p>The wars in Ukraine and Gaza have notably fueled uncertainty around the world. And countries, including the United States, are also in the midst of a tumultuous election year &mdash; which could prove crucial to future economic policy.<\/p>\n<p>Advocates of investing in gold call it a &ldquo;safe haven,&rdquo; arguing the commodity can serve to diversify and balance your investment portfolio, as well as mitigate possible risks down the road. Some also take comfort in buying something tangible that has the potential to increase in value over time.<\/p>\n<p>But future gains are never promised and not everyone agrees gold is a good <a href=\"https:\/\/www.westernjournal.com\/disney-invading-one-popular-video-games-massive-1-5-billion-investment\/\" target=\"_blank\" rel=\"noopener\">investment<\/a>. Critics say gold is not always the inflation hedge many say it is &mdash; and that there are more efficient ways to protect against potential loss of capital, such as through derivative-based investments.<\/p>\n<p>The Commodity Futures Trade Commission has also previously warned people to be wary of investing in gold. Precious metals can be highly volatile, the commission said, and prices rise as demand goes up &mdash; meaning &ldquo;when economic anxiety or instability is high, the people who typically profit from precious metals are the sellers.&rdquo;<\/p>\n<p>If you do choose to invest in gold, the commission and others add, it is important to educate yourself on safe trading practices and be cautious of potential scams and counterfeits on the market.<\/p>\n<p style=\"font-style: italic;\">The Western Journal has reviewed this Associated Press story and may have altered it prior to publication to ensure that it meets our editorial standards.<\/p>\n<div style=\"position: relative;\">\n<div class=\"ff-fancy-header-container\">  <\/div>\n<div class=\"entry-submit-correction inner-content\">\n<div class=\"correction-form\">\n<form style=\"display: none;\">\n<div class=\"sc-name-field\"> <label>* Name<\/label> <br \/> <input type=\"text\" name=\"name\" required> <\/div>\n<div class=\"sc--field\"> <label>* <\/label> <br \/> <input type=\"text\" name=\"\" required> <\/div>\n<p> <label>* Message<\/label> <br \/> <textarea name=\"message\" required><\/textarea>  <\/p>\n<div class=\"required-message\" style=\"display: none; padding-bottom: 15px;\">* All fields are required.<\/div>\n<p> <input type=\"submit\" value=\"Submit\" onclick=\"event.preventDefault(); firefly_sc();\">  <\/p>\n<div class=\"firefly-sc-confirm\" style=\"display: none;\">Success!<\/div>\n<\/p><\/form>\n<\/p><\/div>\n<\/p><\/div>\n<p> <script> \t\t\tfunction firefly_sc() { \t\t\t\tif( typeof window.captchaPublicKey==typeof undefined ){ \t\t\t\t\tconsole.error('window.captchaPublicKey is not defined'); \t\t\t\t} \t\t\t\tgrecaptcha.execute( window.captchaPublicKey, { action: 'submit_correction' } ).then( function( token ) { \t\t\t\t\tvar opts={ \t\t\t\t\t\taction:    'firefly_sc_submit', \t\t\t\t\t\tname:      document.querySelector( '.entry-submit-correction [name=\"name\"]' ).value, \t\t\t\t\t\t:     document.querySelector( '.entry-submit-correction [name=\"\"]' ).value, \t\t\t\t\t\tmessage:   document.querySelector( '.entry-submit-correction [name=\"message\"]' ).value, \t\t\t\t\t\tpost_id:   firefly_post_id, \t\t\t\t\t\tcap_token: token \t\t\t\t\t}  \t\t\t\t\tvar inputs=[ 'name', '', 'message' ];  \t\t\t\t\tfor( var i=0; i <inputs.length; i++ ) if( ! ( opts[inputs[i]]=document.querySelector( '.entry-submit-correction [name=\"' + inputs[i] + '\"]' ).value ) ) { \t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .required-message' ).style.display='block'; \t\t\t\t\t\treturn; \t\t\t\t\t}  \t\t\t\t\tdocument.querySelector( '.entry-submit-correction input[type=\"submit\"]' ).style.display='none'; \t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).src=firefly_loading_gif_url; \t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).style.display='inline-block';  \t\t\t\t\tconsole.log( 'ma subbing' );  \t\t\t\t\tif( firefly_post_id ) opts['post_id']=firefly_post_id;  \t\t\t\t\t\/* Send the data using post with element id name and name2*\/ \t\t\t\t\tvar posting=jQuery.post( firefly_ajax_url, opts );  \t\t\t\t\t\/* Alerts the results *\/ \t\t\t\t\tposting.done( function( response ) { \t\t\t\t\t\tif( response.success ) { \t\t\t\t\t\t\tconsole.log( response.data ); \t\t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).style.display='none'; \t\t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-confirm' ).style.display='block';  \t\t\t\t\t\t\tdataLayer.push( { 'event': 'submit-correction' } ); \t\t\t\t\t\t} \t\t\t\t\t}); \t\t\t\t}); \t\t\t} \t\t<\/script>  <\/div>\n<div class=\"ff-fancy-header-container\">  <\/div>\n<style> \t\t\t \t\t\t.insticator-unit.type-commenting{margin: 0 10px 25px 10px}@media screen and (max-width:1060px){#div-insticator-ad-cmt-1, #div-insticator-ad-cmt-2, #div-insticator-ad-cmt-3, #div-insticator-ad-cmt-4{margin: 0 auto 25px auto !important;}}#div-insticator-ad-cmt-1, #div-insticator-ad-cmt-2, #div-insticator-ad-cmt-3, #div-insticator-ad-cmt-4{height: 280px !important; width: 336px !important} \t\t<\/style>\n<div class=\"insticator-unit type-commenting\">\n<div class=\"insticator-ads\">   <script data-cfasync=\"false\" type=\"text\/javascript\"> \t\t\t\t\tif ( ! getCookie( \"ff_subbed\" ) ) { \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-1\"); \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-2\"); \t\t\t\t\t} else { \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-1\").remove() \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-2\").remove() \t\t\t\t\t} \t\t\t\t<\/script> <\/div>\n<div class=\"insticator-ads additional\">   <script data-cfasync=\"false\" type=\"text\/javascript\"> \t\t\t\t\tif ( ! getCookie( \"ff_subbed\" ) ) { \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-3\"); \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-4\"); \t\t\t\t\t} else { \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-3\").remove() \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-4\").remove() \t\t\t\t\t} \t\t\t\t<\/script> <\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A gold rush is underway as the precious metal reached a record high this week. On Tuesday, the spot price for gold closed at over $2,514 per Troy ounce, marking the highest closing price ever recorded for this commodity. This means that a 400 Troy ounce gold bar would be valued at more than $1 million today. The recent surge in gold prices reflects an increase of nearly $620 per Troy ounce compared to this time last year.<\/p>\n<p>Several factors are contributing to these gains. Typically, interest in purchasing gold rises during uncertain times\u2014such as concerns about inflation and the strength of the U.S. dollar\u2014prompting investors to seek alternative places for their money. Gold also experienced a spike during the early stages of the COVID-19 pandemic. Joe Cavatoni, a senior market strategist at the World Gold Council, highlighted that current demand from central banks is significantly above its five-year average due to growing worries about inflation and economic stability. He also mentioned ongoing geopolitical tensions as another reason driving people towards buying gold.<\/p>\n<p>The conflicts in Ukraine and Gaza have notably increased global uncertainty, while countries like the United States are navigating a challenging election year that could impact future economic policies. Proponents of investing in gold refer to it as a &#8220;safe haven,&#8221; suggesting it can help diversify investment portfolios and reduce potential risks over time; many find comfort in owning something tangible with potential long-term value appreciation.<\/p>\n<p>However, future profits are not guaranteed, and opinions on whether gold is a wise investment vary widely. Critics argue that it may not always serve as an effective hedge against inflation and suggest there are more efficient methods for protecting capital losses through derivative investments instead. The Commodity Futures Trading Commission has previously cautioned investors about entering into gold investments due to their volatility; they noted that prices tend to rise with increased demand\u2014indicating that sellers often benefit during periods of economic anxiety or instability.<\/p>\n<p>If you decide to invest in gold, experts recommend educating yourself on safe trading practices while being vigilant against scams and counterfeit products available on the market<\/p>\n","protected":false},"author":1,"featured_media":2328764,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/08\/93e1d04050ed4d8ba6eaa6168bef0d2d-scaled.jpg","fifu_image_alt":"","footnotes":""},"categories":[33651],"tags":[9168,6397,21134],"class_list":["post-2328763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","tag-economy","tag-gold","tag-record-high"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/08\/93e1d04050ed4d8ba6eaa6168bef0d2d-scaled.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2328763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2328763"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2328763\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2328764"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2328763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2328763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2328763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}