; Gold Prices Reach $16,27. Yet, Fewer People Are Selling.

Summary

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Anxiety over the debt ceiling deadline and no solution in Washington have created instability in the markets and pushed the price of gold to a record high Wednesday before falling slightly as consumers look for a stable investment.

Price monitoring website GoldPrice.org said the price of the precious metal surged to $1,627 per ounce at 10 a.m. before closing around $1,612 as the market closed in the afternoon. The price is up 20 percent from 6 months ago and 150 percent from 5 years ago, when the gold was less than $675 per ounce.

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Extract

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; Gold Prices Reach $16,27. Yet, Fewer People Are Selling.

The surging price has impacted local jewelers, as fewer people are willing to sell what gold th...

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