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- Gold has risen 2020
- for the First time in years, the price ranks close to the record highs at 1921 US Dollar
- click Here for the current price of Gold
“world gold price” is rising high in all – time expert expected to set new records
Monday, 13. July 2020, 13.25 PM: While the commonly used Gold price in US Dollar for the week, prelude rose by 0.50 per cent to 1808 dollars per Troy ounce (about 31.1 grams) and, thus, continue to be at the highest price level since 2011 ranks, indicated by the gold trader Degussa for the “world gold price”, a new all-time high.
This award, Degussa, itself calculated from all of the major currencies, while the Benchmark price is calculated in dollars. According to the dealer, this “world price of gold rose” about 2400 dollars per fine ounce and, therefore, higher than ever before.
The gold trader, there are currently three important factors for the increase in the price of the yellow precious metal. On the one hand, the price is a further boost to the “Zero and negative interest rate policy of the major Central banks”. On the other hand, the interest guardians expanded their monetary policy in the Wake of the lock downs, the money supply, which reduces the purchasing power of cash. Therefore, Gold recommend “is apparently one of the few remaining liquid and reliable means of storage,” says Degussa’s chief economist, Thorsten Polleit. Gold price (Spot) 1.808,02 USD +8,56 (+0,48%), except over-the-counter To the course data
waxes Last, according to Polleit, the “misleading of the economic activity due to the increasingly inflationärere monetary policy”, whereby the risk rises of new turmoil on the stock exchanges. Therefore, investors would use the Gold more as a “Portfolio insurance”. Overall, Polleit believed that all of these factors to a next, more movement of the price is due – “the start-up, the previous all-time high price of gold (from September 2011) from well 1900 USD/crack oz”.
for the First time in almost nine years: the price of gold over 1800 US dollars
Thursday, the 09 is on the rise. July 2020, 16: 44: last Wednesday, it finally happened: for the First time since 2011, the price of gold rose above the level of 1800 dollars. The yellow precious metal claimed this gains: On Thursday, the price was set in 1808 dollars per Troy ounce (about 31.1 grams), is only minimally lower than the previous day. The price of gold will thus be increasingly record-high target, which was reached in September 2011 when the 1921 us dollars.
In Euro terms the gold price had already reached in may, a new record high in 1633 Euro. Most recently, the Troy ounce was trading at exactly 1600 Euro. As a price driver for Gold is the fear of the economic consequences of the Corona-crisis and the extremely loose monetary policy of leading Central banks to apply especially. Investors fear sometimes that the enormous flood of money could sooner or later lead to a rising Inflation. Gold is traditionally regarded as protection against inflation.
“driving figures of The fear of the consequences of the further rise in the Corona the investors into safe havens,” said Alexander Zumpfe, precious metals trader at a trading house Heraeus, the mood of the market. In the financial markets, the high number of new infections in the United States and in countries of South America for a nervous mood, especially.
in addition, investors remain concerned about the economic consequences of the Corona-crisis. Most recently, the EU had warned the Commission that the recession in the Eurozone this year is likely to be more significant than previously thought.
According to the assessment of Zumpfe, the demand for securities prices to rise, which are deposited with Gold (Gold ETFs) acts currently in force. How strong is the demand for these securities, recent data from the industry Association World Gold Council. The Association had reported on Tuesday a record growth in the first half of the year. In the first six months have given the securities an increase of 734 tons. Thus, the increase in the severity of the financial and economy had been exceeded crisis of 646 tonnes in 2009.
Gold swings below the 1800 Dollar demand in India due to pandemic sluggish
Tuesday, 07. July 2020, 14.35 PM: In the new trading week has kept the price of gold in the vicinity of the 1800 Dollar mark. Finally, the price for a fine ounce of Gold (about 31.1 grams) gave in to something and fell by 0.35 per cent to 1777 dollars. In euros the Gold price fell slightly, to 0.33 percent in 1574 Euro per fine ounce. Gold price (Spot) 1.808,02 USD +8,56 (+0,48%), except over-the-counter To the course data
In the previous week, still had cracked, the Gold Futures in New York at times, the trademark of 1800 dollars. “Gold is resisting to the positive market sentiment, which is reflected in the marked rise in share markets”, commented the experts of Commerzbank, the price development on Tuesday.
The professionals referenced on good data from the USA and China, new hopes of a quick economic recovery fueled, noted, however, that the stock market is currently just a little Worried about the rising Coronavirus case in the United States seems to make.
Due to the increasing infections in India, the experts do not expect any quick recovery in the major demand for gold there: “Because of the strict output constraints is sold in India for months, little Gold and imported.” Therefore, the demand is currently strong from the buying mood of investors, depending on which is more unbroken, wrote the experts. “The Gold ETFs recorded inflows until recently, and also from speculative financial investors in the past few weeks, a return to rising prices,” said Commerzbank.
Gold is to reward the “patient investors” – Saxo Bank sees reasons for Gold to Rally
Friday, may 3. July 2020, 10.36 PM: The price of gold is aiming higher and higher. On Wednesday, he was at 1774 US dollars per Troy ounce (about 31.1 grams), an increase of 0.10 percent from the previous day. In this country, an ounce of fine Gold at a cost of 1580 euros. In the community currency of the price listed on the expected to a record high level. In the U.S. futures markets, the price of Gold rose for delivery in August and occasionally even until about 1800 US dollars – a level not seen since 2011.
Gold is so far the Top-Performer of the year, as data of the Deutsche Bank show. Up to the middle of the year, the price increased by almost 20 percent. In order for Gold depended on it, even the strong Tech stocks, the Nasdaq, which so far this year rose about 14 percent. An analysis of the Saxo Bank, the Outlook for Gold remains good.
“The ability of Gold to frustieren patient investors only to reward, but then eventually, it will show in the third quarter, probably again,” wrote Ole Hansen, chief commodity strategist at Saxo Bank, according to the “CNBC” in an analysis-comment. According to Hansen has set the Gold although now first in the range of 1700 dollars. At the beginning of April the price of gold was penetrated for the first time in this area.
Goldman Sachs raises price targets for Gold
Nevertheless, it would speak a lot of reasons for a repeated increase. Hansen expected that the price will rise this year, at least back to 1800 dollars, and new records will be coming in the following years.
Saxo Bank, this would speak for a Gold Rally in the second half of the year, the “political need” for higher Inflation, as well as the global glut of Savings, and rising geopolitical tensions ahead of the presidential election in November. The higher Inflation was due to the in the Corona-crisis made debt necessary. Gold is considered relatively stable-value cash investment.
in order for Saxo Bank joins other institutions that already have issued bullish forecasts for Gold. Goldman Sachs was about to be raised in the middle of June already have their Gold price targets for periods of three, six and twelve months, 1800, 1900, respectively, in 2000 dollars, “CNBC”. Hearty oven-potato: So easy the full-fledged main dish to be a success PCP Hearty oven-potato: So easy the full-fledged main dish
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