The gold rush continues: quoted in euros, the price in euros has broken another record. The troy ounce of gold now costs almost 1,600 euros. There are many indications that the price will continue to rise.
Prices are soaring on the gold market. On Thursday, the quotation in euros reached a record high of 1,597.34 euros per troy ounce (31.1 grams). On the international financial markets, however, the precious metal is usually traded in US dollars. But also in dollars, the price in midday trading on the London stock exchange went up significantly.
The price for one troy ounce recently climbed around $ 21 to $ 1,738. The price in dollars rose again a bit towards the record high that had been reached in 2011 at around $ 1,920.
The Corona crisis remains the strongest price driver on the gold market. Concern about the economic consequences of the pandemic is currently driving investors to safe mooring ports, which traditionally include the yellow precious metal. In addition, the flood of money from leading central banks in the fight against the economic downturn is seen as a major cause of the current strong demand for gold.
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