Gold, Silver and other valuable metals are rising in value this year, according to data from the United States Bureau of Labor Statistics.
The statistics bureau reported Thursday that gold, silver and other metals rose by 2.1%, or 0.9%, in 2017, to $1,268.51 an ounce.
Silver rose by 0.3%, or 1.1%.
The metal’s rally this year has been fueled by two factors.
One is a strengthening dollar, which has increased its value against other major currencies and has helped lift inflation above the Fed’s 2% target.
The other factor is the continued expansion of supply of gold and silver, which have been growing in popularity.
Gold is on track to reach a record high of 18.4 tonnes in 2018, up from 15.2 tonnes in 2017.
Gold has also been a key driver of economic growth in recent years, with China’s economy growing more than 8% a year in the last three years.
Inflation has been low and inflation-adjusted wages are also rising.
The dollar has fallen to levels not seen since 2003, when the last time gold was worth so much was in 2009.