Gold Price Hits New All-Time Highs Amid Huge Increase in Volatility

December 05, 2023

by Ronan Manly Bullion Star

With less than 20 trading days left until the end of 2023, we have just witnessed a series of record-breaking price developments in the international gold price, as well as heightened gold price volatility, and the price moving in a $120 range intraday.

While a new all-time high monthly close in the US dollar gold price was achieved on Thursday 30 November at $2040/oz, and new all-time highs on the weekly close and daily close were achieved on Friday 01 December at $2072/oz, these new record highs were in hindsight, overshadowed by what happened subsequently.

For following the weekend pause of Saturday and Sunday (when gold market venues around the world are closed,) the gold market re-opened into the new trading week with a shock and awe surge to $2143, the speed and magnitude of which has not been seen for many years.