Gold prices hover near $2,400 an ounce: 6 reasons to buy in today
We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. By Angelica Leicht Edited By Matt Richardson April 16, 2024 / 2:00 PM EDT / CBS News The price of gold may be nearing a new all-time high, but there are still good reasons to invest right now. Chris Clor/Getty Images The price of gold has been on an upward trajectory in recent weeks amid numerous unusual economic factors, climbing from a then-record high of $2,160 per ounce in early March to the current price of $2,371.11 per ounce. And, at just under $2,400 per ounce, today’s gold price is edging toward another record high — which could further entice investors to buy in. The current surge in gold prices can be attributed to a confluence of factors, chief among them is the issue of persistent inflation . The latest Consumer Price Index (CPI) data shows that inflation climbed from 3.2% in February to 3.5% in March, a concerning trend that has continued to erode consumers’ purchasing power. And, as the threat of sustained high