Highlights

Gold hits record high of US$1,930 per ounce

 Publish date: Mon, 27 Jul 2020, 4:41 PM

HONG KONG: Gold prices rocketed to a record high on Monday with spooked investors rushing into the safe-haven as the coronavirus spreads across the globe, while the weaker dollar also provided strong support.
 
The metal surged more than one per cent to US$1,930.48 per ounce in Asian trade, with analysts predicting it could soon break US$2,000.
 
With the disease showing no sign of letting up, traders have been flocking to gold, which is seen as a safe bet in times of crisis and uncertainty.
 
Vast monetary easing measures put in place by the Federal Reserve, pushing the dollar lower against most other currencies, have added to its attractiveness.
 
"Strong gains are inevitable as we enter a period much like the post-global financial crisis environment, where gold prices soared to record levels as a result of copious amounts of Fed money being pumped into the financial system," said Gavin Wendt, senior resource analyst at MineLife.
 
Demand for the commodity has also helped silver more than double in value from its March lows, up four per cent on Monday at US$24.10 an ounce.
 
 - AFP
 
Share this

  Be the first to like this.
 


APPS
I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
View candlestick stock charts with Technical indicators
MQ Affiliate
Be rewarded by being an MQ Affiliate
 
 

237  841  406  512 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 XOX 0.24-0.015 
 SAPNRG 0.115-0.015 
 BORNOIL 0.07+0.005 
 AT 0.09-0.015 
 PWORTH 0.040.00 
 PHB 0.035-0.005 
 LAMBO 0.0550.00 
 TRIVE 0.020.00 
 PHB-WB 0.02-0.005 
 NEXGRAM 0.0650.00 

FEATURED POSTS

1. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!
2. MQ Affiliate – A smarter way to earn more rewards MQ Trader Affiliate Program
3. MQ Affiliate – How to become an effective affiliate MQ Trader Affiliate Program
4. MQ Affiliate – Upgrading to Affiliate Partner MQ Trader Affiliate Program
Partners & Brokers