Gold Prices Set New Records; Behind the Latest Surge

Gold prices topped $2,500 for the first time, and the yellow metal remains one of the top-performing assets in the global financial markets this year, buoyed by a wide range of factors. December gold futures, the most active contract, rocketed $53.80, or 2.16 percent, to $2,546.20 per ounce on Aug. 16 on the New York Mercantile Exchange. The precious metal registered a weekly gain of slightly more than 3 percent, adding to its year-to-date rally of nearly 23 percent. Over the last 12 months, gold prices have spiked close to 33 percent. Silver, the sister commodity to gold, also firmed above $29 to end the trading session. September silver futures climbed $0.667, or 2.35 percent, to $29.085 an ounce....