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Urs Keller
![The gold price has surpassed its all-time high of 2011.]()
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The gold price has surpassed its all-time high of 2011.
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Keystone
![On Monday night, the price of the precious metal was $ 1944.71 per troy ounce. An all time record.]()
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On Monday night, the price of the precious metal was $ 1944.71 per troy ounce. An all time record.
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imago images
![The reason is the growing uncertainty among investors in the wake of the corona crisis.]()
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The reason is the growing uncertainty among investors in the wake of the corona crisis.
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imago images/imagebroker
![The price of silver is also rising, but is still far from the record level of 2011.]()
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The price of silver is also rising, but is still far from the record level of 2011.
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The fear among investors of a stock market crash as a result of the corona crisis is causing the gold price to skyrocket. Gold is now more expensive than ever. On Monday night, the precious metal hit a high of $ 1944.71 a troy ounce on the London Stock Exchange. This breaks the previous record from 2011.
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The price of gold has increased by more than a quarter since the beginning of the year. The money printing offensive by central banks around the world is fueling fears of a sharp rise in inflation rates. In addition, the US dollar is weaker than it has been for years, and investors are increasingly escaping to the safe haven of gold. This is particularly popular with investors in times of crisis. Because: The precious metal cannot be expanded at will and should therefore be particularly crisis-resistant.
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Silver is also taking off
For experts, this record is only a stopover to new heights. Several major US banks expect gold prices to continue going through the roof. Goldman Sachs predicts an increase to over $ 2,000 per troy ounce. Bank of America goes one step further. It expects to rise to $ 3,000.
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Silver is just as popular at the moment. Its price has also risen sharply in recent days and is currently over $ 24 per troy ounce. However, silver is still far from an all-time record. This dates from 2011 and was $ 49.83 per troy ounce at the time.
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