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Gold Rallies to All-Time High as Traders Weigh Further Fed Stimulus Actions

TheMotleyFool

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Gold Rallies to All-Time High as Traders Weigh Further Fed Stimulus Actions

The price of gold hit a new all-time high Monday morning as investors seek safe havens to protect themselves from the weakening U.S. dollar and concerns about the health of the global economy.

Gold traded at $1,931.90 per ounce overnight, up by 20% year to date and up by 67% over the past 12 months. That surpassed the previous all-time high of $1,891.90 set in August 2011, though the price retreated slightly on Monday after hitting that peak.