The ounce of gold reached a new record on Tuesday during the session, exceeding for the first time the symbolic mark of 2,000 dollars around 4:15 p.m. GMT before falling back slightly.
It evolved around $ 1,995 around 4:50 pm GMT.
The price of the precious metal has continued to climb since the beginning of the year, having appreciated by more than 30% and benefiting from its status as a safe haven in a market disoriented by many uncertainties with the coronavirus pandemic.
Gold is currently seen by investors as a “buying opportunity” for Commerzbank analysts.
“This is hardly surprising given the still high number of new cases of Covid-19 contamination, the endless suspense in Congress around new measures to help the economy, even more widespread negative interest rates and equity markets at extremely high levels, ”they detail.
The weak dollar is also one of the factors that have played in favor of gold in recent weeks. As the price of the precious metal is denominated in the US currency, a decline in the greenback makes gold cheaper for buyers with other currencies.
The dollar index, which measures the value of the US currency against a basket of other currencies, has lost more than 3% since the start of the year.