New historic milestone: gold surpassed $ 2,000 per ounce
Gold futures in the United States closed up 1.7% at $ 2,021 an ounce, after also hitting a record high of 2,027.30
A few weeks ago in an interview offered by Rodrigo Aguiar, associate trader of Intelinvest Casa de Valores, to the DOBLELLAVE digital media, he indicated that the answer or possible solution to preserve the purchasing power of hard currencies in view of the events and crises caused by the coronavirus pandemic, was to invest in gold.
Today, this continues to be a good option, and is accentuated, as gold prices exceeded the level of $ 2,000 an ounce on Tuesday, August 4 for the first time in the history of the market.
In this way, it was known that an environment of ultra low interest rates and expectations of more stimuli from the United States, to target it in an economy hit by the coronavirus, boosted the attractiveness of refuge of the metal.
Based on the final price presented, spot gold climbed 1.6% to $ 2,009.13 an ounce, then traded 1.4% higher at $ 2,004.35 an ounce in the afternoon. Meanwhile, US gold futures closed 1.7% higher at $ 2,021 an ounce, after also hitting a record high of $ 2,027.30.
Standard Chartered analyst Suky Cooper noted that “safe buying led gold prices to exceed $ 2,000 for the first time, as the dollar hits lows seen more than two years ago, real negative rates fell to levels last seen in 2013 and expectations for new stimulus packages continue to grow.”
So far this year, the bullion climbed 32%, mainly supported by lower interest rates and a general stimulus from world central banks to alleviate the economic blow of the pandemic.
With information from agencies, DobleLlave and other international media news
