Driven by investors, gold prices have remained high throughout the year, even hitting a recent record high this quarter, according to The Wall Street Journal.
The newspaper reported on Sept. 29 that gold futures prices are up almost 24% for 2020. A key precious metal recovered from scrap electronics, the yellow metal reached nearly $2,000 a troy ounce in August.
Adjusted for inflation, the last time gold reached the $2,000 level was in 2011 and 2012, according to The Wall Street Journal, which attributed the high this year to investors responding to recent financial and economic trends.
In July, E-Scrap News noted the value had climbed to around $1,800 per troy ounce.
More stories about markets
- Phone shipments and demand expected to decline
- Online device trade-ins continue to gain momentum
- Iron Mountain sees higher sales from ITAD business