The gold price expands its profits. An end to the increase does not currently appear in sight. The central banks continue to pump a lot of money into the financial system to combat the consequences of the corona pandemic.
The gold price continues to soar. The troy ounce costs a little more than $ 1,727, which is the most since the end of 2012. That’s around 1580 euros – that’s the highest price gold has ever achieved in the common currency.
One of the main reasons for the price increase is the reputation of gold as a safe haven during turbulent times. “There is still a great deal of uncertainty among investors,” says precious metal trader Alexander Zumpfe from the Heraeus trading company. The effects of the Corona crisis on the further development of the global economy cannot yet be estimated and the demand for gold is still comparatively high.