Placement|The tightening of the situation in the Middle East pushes the price of gold to new records.
Use there seems to be no end to the wild price rally. On Friday, the price of gold rose again to a new record.
Now the $2,700 limit was broken for the first time. That’s how much one ounce of gold costs.
At its highest, the price of an ounce of gold was 2,719 dollars on Friday.
In a year, the price has risen by almost 50 percent. A year ago in October, one ounce cost $1,900. In the week, the price of gold has risen by more than two percent.
The price of gold is now galloping at such a speed that even forecasts cannot keep up. It wasn’t until August that the $2,500 limit was broken, and the breaking of the $2,700 limit was only predicted for next year.
Gold known as a safe haven for investors that maintains its value. Because of this, its price always rises in the midst of crises and economic and political uncertainties.
Right now, in addition to the tightening of the situation in the Middle East, the price of gold is being raised by the upcoming US presidential election. Both bring uncertainty to the market.
Additional interest in gold is usually also created by central banks loosening their monetary policy, i.e. lowering their key interest rates.