Spot gold blasting through his long-standing record as the dollar fell and worries about the global economy increased demand for the doors. Silver has guided his foot to pass the highest in nearly seven years. gathering Bullion, which they can put on the road $2,000 per ounce has come to be taken as a measure of the dollar to the minimum dropped in more than a year with negative real interest rates in the US and bets that the Federal remain Reserve accommodative policy when it meets this week. Investor demand has helped Relentless salt fuel prices, with a collection exchange-traded funds in gold-backed already this year to top the record in 2009. Spot gold rose to $1,944.71 per ounce, beating the previous record set in 2011 of more than $20. Futures climbed on the Comex, to a record $1,966.50 set as a part of a further boost for its contract available rallies. Investors have turned to gold as the shot Crown pandemic reinforced its port status for global growth. But the get support of metal from a long list of factors: the increase in geopolitical tensions, real interest rates fell, the weaker dollar, and government and central banks around the world have sparked great stimulus measures to try boost economies. “Strong gains are inevitable, as we enter a similar period for the post-GFC environment where the levels of gold price rose following a Fed copious amounts of borrowed money is pumped into the financial system”, with a dollar weak and negative real interest rates further impetus to give, said Gavin Wendt, senior analyst at mine life Pty resources. the gold in front of his eyes on $2,000 and consolidate in the coming weeks on it, he said. The current environment has raised the specter of stagflation, a rare combination of slow growth and rising inflation, which erodes the value of fixed income investments. In the US, investors’ expectations for annual inflation over the next few years, ten later the last four months have passed after plunging in March. US bond markets were an important parameter to determine the path for the gold, the metal is used as an attractive cover, as yields of Treasuries that extracts the effects of inflation down to look under zero. both get gold and bond traders a steer from the Fed this week, when officials meet July 28 to 29. Expectations are will keep interest rates near zero, while the markets will watch for any signals about changes in strategy. The meeting can be a platform for a powerful message that change is coming, the possibility of further measures unopened conventional farther down the line, according to Chris Weston, head of research at Pepper Group in Melbourne. “If we think and what the Fed is doing the real returns, beats just me that it is a matter of time before real yields remain low trend and gold goes higher and higher.” Increasing concerns about the pandemic virus and relations deteriorated between the United States and China in the gold charm, and most analysts are bullish on the metal prospects. Goldman Sachs Group Inc. said the metal could reach $2,000 in the next 12 months, and Citigroup Inc. is a probability of 30% on the price at this level until the end of this year topping. Spot gold per ounce from 7:32 to trade at $1,933.44 in London. Newcrest Mining Ltd., the largest gold producer in Australia, advanced as much as 5.6% in Sydney, such as stocks Zijin Mining Group Co. Hong Kong-listed rose as much as 7.9%. Silver Bullion later than 7% to $24.3993 per ounce to jump the highest since 2013 -With the help of David Stringer. Copyright by David Gray Bloomberg / Getty Images
Gold Nears $2,000 per ounce, as peaks at the highest level in an uncertain world
