THUNDER BAY - The price of gold hit an all-time high in Canada on Thursday, jumping up to $2,000 per ounce.
The latest spike is expected to impact everyone from those who work in the mines, to those who are getting rid of old jewelery.
It was a day for history as the price of gold reached a historic high of two-thousand dollars per ounce on Thursday. The biggest spike in price is very good for the region, according to Mining Services Project Manager John Mason, who expects to see new projects on the horizon.
"In the last two days we've seen the pure gold announcement which is another Red Lake project. We're very pleased to see that they will commence a production next year now. Their construction deal has been made and money is in place. These are all indications that there is confidence in the gold market," Mason said.
Mason hopes that Greenstone Gold with their hardrock project at Geraldton and treasury metals just east of Dryden will also be up and running within the next three-to-five years. He says that over the past seven years the gold mining field has struggled to find investors.
However, he is hopeful that the latest spike in price will draw in some attention.
"We're hopeful that now with gold breaking this key point that we'll see more investment into those projects as well," Mason said.
Gold mines are not the only sector benefiting from the historic high price. Pina Laudone, the office administrator at Gold Exchange says that people in the city are taking advantage of this extraordinary leap in price.
"It happened so fast. I even said, 'oh wow' so I figured 'okay, I'm going to be busy' and sure enough... it's been busy."
Laudone adds that their customer count has gone up 50 per cent in the last week. Although gold is currently fluctuating at some of the highest prices per ounce that Canada has ever seen... experts say it is one that often shifts from day to day.
With files from Alana Pickrell, TBT News.
