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Gold price reached its peak for past 9 years - price rise to continue

10.07.2020,12:22


July 10, Fineko/abc.az. On 8 July an ounce of gold (28.35 grams) was sold for $1,817 at the world market, which means an increase of more than 20% against early 2020.

ABC.AZ reports with reference to Reuters that this figure is the highest since September 2011.

Experts noted that the majority of buyers of gold are exchange-traded funds (ETFs), 95% of which are located in the U.S. and Europe, that is, investments in gold are made from developed countries.

Gold is expected to be even more expensive in the short-term prospect.

So, in the next 3-4 months the prices will remain at the level of $1,800-2,000.