Investors generally buy gold for two main reasons: to financially gain from increasing gold prices, and/or as a hedge or safe haven against any economic, political, social or currency-based crises.
In March 2008, the gold price reached above $1000, reaching an all-time nominal high of $1004.38, which in real terms was still well below the $850 peak in 1980. It then fell, going as low as $712.30 in November, then resumed it's upward trend, temporarily breaking the $1000 barrier again in late February 2009 and a third time in early September the same year. Recently, after fluctuation around the USD $1000.00 mark throughout the week ending Friday, September 11, 2009, the gold market closed holding steady at USD $1004.90.
Later, during the following week, gold peaked at the 2nd-highest dollar trading mark in history at USD $1023.30. Currently, it has declined moderately to the USD $1011.29 mark as of market close on Thursday, September 17, 2009. Gold set an intraday record of USD $1033.90 in March of 2008, the highest mark on Record to-date.
