Gold Reaches 9-Year Highs

27 July 2020

    As the USD is having a tough time amid US-China tensions and pandemic consequences’ concerns, the ultimate safe-haven asset - gold, reaches 9-year-highs. 


    On top of consular closures on both sides in the US-China conflict, as well as Secretary of State Mike Pompeo’s speech on Washington no longer tolerating Beijing’s attempts to usurp global order,  the number of coronavirus cases in the world has topped 16 million, with the US accounting for approximately a quarter of the figure.


    In logical response, in the morning of Asian trading hours, gold traded at about $1,931.11 per ounce after earlier trading as high as $1,943.9275 per ounce. These levels have eclipsed the previous record price of September 2011.


    Gold futures had also gained 1.54%, reaching $1,926.70

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