Gold tops $1,900 as buyers pile on (VIDEO)

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Gold topped another century mark Monday in its summer price surge, rising above $1,900 an ounce for the first time.

The metal traded as high as $1,917.90 in afternoon electronic futures trading. In the regular futures session the near-term contract closed up $39.80, or 2.1%, to a record $1,888.70.

The price has risen for six straight sessions and seven straight weeks. Gold topped $1,700 for the first time last week. The $1,600 mark was crossed in mid-July.

Why Does the Price of Gold Rise and Fall?

During times of national crisis, such as a war or a serious natural disaster, the price of gold tends to greatly increase. People start to fear that their paper currency may no longer hold value, but they see gold as a stable asset that can always be used to purchase food and other necessities.

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