Price of Gold Hits Record High

Today the price of gold jumped $22 to close at $860 per ounce. Gold hit an intraday trading high of $864.50, the highest price in nearly 30 years. Gold's all time high price of $875 per ounce reached in 1980 is now within striking range.

Gold has recently had a very sharp run up. Less than two weeks ago on December 20, gold was trading below the $800 mark. The recent run has been accompanied by a rise in the price of oil and uncertainty in the financial markets.

Last year, the rising price of gold played havoc with some of the Mint's gold product offerings. On several occasions the Mint had to suspend sales of coins to adjust prices to account for the increasing value of gold. It looks like there might be more of the same in store for 2008.

The Mint currently has the following gold products 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 American Buffalo Gold Proof (contain one ounce of gold) $899.95
• 2007-W $10 American Gold Eagle Proof (contain one quarter ounce of gold) $239.95
• 2007-W $5 American Gold Eagle Proof (contain one tenth ounce of gold) $116.95

Related:

Burnished Gold and Silver Eagles- The US Mint Keeps Collectors Guessing
First Spouse Gold Coins
Certified Gold Eagles