Mint News Blog

News, Information, and Commentary on US Mint Products

Wednesday, January 9, 2008

Gold Reaches All Time Record High

Yesterday, the price of gold reached an all time record high of $880.30 per ounce on the New York Mercantile Exchange. Over night, gold briefly traded above $890.00 in the overseas markets.

The record price was preceded years of rising prices. Dave Harper recently noted that gold has risen over each of the past seven years with yearly gains of 2.46%, 24.72%, 19.59%, 5.24%, 18.29%, 22.84%, and 31.44% from 2001 to 2007. Only a few days into 2008, gold has risen by more than 5% year to date.

Many will note that the previous record close for gold at $875 was set in 1980. Adjusted for inflation, this would equate to a price of $2,200 in today's dollars.

The number of gold products at the Mint continues to dwindle as products sell out or are suspended. As of the writing of this post, the follow gold products are still available for sale:
  • 2007 First Spouse Gold Proof Dolley Madison (contain one half ounce of gold) $529.95
  • 2007 First Spouse Gold Unc Dolley Madison (contain one half ounce of gold) $509.95
  • 2007-W $5 American Gold Eagle Proof (contain one tenth ounce of gold) $116.95


At January 21, 2008 at 5:40 AM , Anonymous Anonymous said...

When did the 2007w uncirculated gaes go on sale last year?

Do you think the mint will put these back onsale?

At January 21, 2008 at 6:22 AM , Blogger Michael said...

The 2007-W Gold Eagles went on sale at the Mint on April 27, 2007.

Sales have been suspended since November 5th.

As far as I know, the Mint has not made any determination about what to do with any potential remaining inventory.


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