Gold experts explain what the record-high prices really mean
The spot price of gold recently hit the $2,500 threshold, valuing a 400 troy ounce gold bar at $1 million.
Alexander Manzyuk/Anadolu Agency via Getty Images
- The price of gold has beaten all expectations for the year, reaching more than $2,500 per ounce.
- While higher demand explains some of the run-up, experts say there's another side to the trend.
- Cash prices for gold also go up when the real value of currencies, including the US dollar, go down.
2024 has been a big year for gold.
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