Gold Prices Near Record as Investors Bet Inflation Is Here to Stay

Lower Treasury yields and weaker dollar have also boosted the precious metal

Photo: Akos Stiller/Bloomberg News

Gold prices hit their highest level of the year on Thursday, driven by bets that inflation will remain sticky despite recent declines. 

The most actively traded gold-futures contract rose to $2,055.30 a troy ounce, up 13% year to date. That also put it within striking distance of its record high, reached in the summer of 2020.

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