Investors resort to gold as a crisis currency.
(Photo: dpa)
Zurich, Dusseldorf The price of gold rose to its highest level since August 2020 on Thursday night. According to financial data provider Refinitiv, the price of the precious metal was $ 2,072 that night, as high as the record high that was reached at the time. In the further course of trading, it then gave up part of its profits – at the start of trading in Europe, gold was quoted at around 2040 dollars.
According to John Reade, chief market strategist at the World Gold Council (WGC), several factors have contributed to pushing the price of gold to its record high. The most important: “More uncertainty and concerns about the financial system.” This is fueling investor demand for gold as a “safe haven”, he said.
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