Alaska precious metals to hit $300 per ounce for first time since 2008
Alaska’s precious metals industry will be able to hit its highest price ever in August with a record-high price of $300 a pound, according to a Reuters report.
Alaska has the world’s largest gold reserves and a thriving gold-mining industry, but the precious metal is also a highly volatile commodity.
Alaskans are used to high prices in their region, with the U.S. minting gold coins for more than 100 years.
Alaskan gold prices have fallen in recent months.
The price dropped to $1,225 per ounce in July, then to $2,400 in August, then back to $3,300 on Aug. 10.
That price was also a record low for the precious metals in the United States.
Alcasas precious metals are made from the ore from the Chinook gold mine in the Yukon.
The metals are used in jewelry, jewelry-making and in other precious metals and jewelry-related products.
The U.N. has warned the price of gold, the main component of a bullion coin, has been driven by the recent surge in global demand for the metal.