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On 21 January 1980 the gold fixing reached the price of $850, a figure not surpassed until 3 January 2008 when a new record of $865.35 per troy ounce was set in the a.m. fixing. However, when indexed for inflation, the 1980 high corresponds to a price of $2,305.18 in 2011 dollars, [4] thus the 1980 record still holds in real terms .
A 10% increase in the gold price to $660 per troy ounce ($21/g) will push that margin up to $360, which represents a 20% increase in the mine's profitability, and possibly a 20% increase in the share price. Furthermore, at higher prices, more ounces of gold become economically viable to mine, enabling companies to add to their production.
May 20 marked an all-time high price for gold, at a spot price of $2,435.96 per ounce. Gold futures were higher at $2,438.50. Spot silver also rose to $32.17, an over 11-year high.
Gold jumped to a record Tuesday as rising expectations of a September interest rate cut bolstered demand for bullion. Gold futures advanced 1.7% to $2,471.1, topping the previous high of $2,454.20 ...
In 1792, the gold/silver price ratio was fixed by law in the United States at 15:1, [11] which meant that one troy ounce of gold was worth 15 troy ounces of silver; a ratio of 15.5:1 was enacted in France in 1803. [12] The average gold/silver price ratio during the 20 th century, however, was 47:1. [13]
Gold per ounce started on Monday at $2,038 per ounce. Its value surged between 2019 and 2021, going from about $1,300 an ounce five years ago to roughly $1,900 an ounce three years ago. Silver ...
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