While the price of oil and stocks all over the NYSE, the NASDAQ and the Dow fell by over 500 points, Gold prices reached a new record high of $1,684.90 before finally closing a little down.
Silver prices are also climbing as investors search for a relatively safe haven from the massively volatile stock market. Currently at just under $40 per ounce, silver is still expected to cross over $100 per ounce in the long term.
Panic was seen across the market today with literally billions of shares trading on the floor of the New York Stock Exchange. With investors running to the gold and silver market, the sell off in stocks and oil futures accelerated their decline throughout the day on Thursday. Many fear what Friday will bring as word and potentially more panic spreads throughout the country and the world.