Gold Heading For Second All-Time Monthly Closing High GOLD FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) COMEX:GC1! CW_Trades The highest that gold price has ever closed on a monthly basis was $1,831/oz in August of 2011. If traders can close June out above $1,773/oz this will be the second highest monthly closing price for gold on record. Gold is moving higher because trillions of dollars are being printed and gold is a store of value, used to protect wealth during times of uncertainty. It is certain that central banks will continue printing money for the foreseeable future. More money = more inflation = higher gold prices.