The price of gold rose more sharply and higher in 2020 than it had in years. Gold is considered a “crisis currency” and an important building block for investors. Follow the most important developments around the yellow precious metal in the gold price ticker.
“World Gold Price” rises to all-time high – expert expects new records
Monday, July 13, 2020, 1:25 p.m .: While the generally used gold price in US dollars at the start of the week rose by 0.50 percent to $ 1808 per troy ounce (about 31.1 grams) and thus continues to be at the highest price level since 2011 ranked, the gold trader Degussa reported a new all-time high for the “world gold price”. Degussa calculates this price itself from all major currencies, while the benchmark price is calculated in dollars. According to the dealer, this “world gold price” rose above $ 2400 per troy ounce, higher than ever.
According to the gold trader, there are currently three key factors driving the price of the yellow precious metal. On the one hand, the price will continue to be spurred on by the “zero and negative interest rate policies of the major central banks”. On the other hand, interest rate keepers continued to expand their monetary policies as part of the lockdown, which reduces the purchasing power of cash.