Gold Price News and Forecast: XAU/USD continues climbing after smashing through the $2000 psychological barrier
|Gold Price Analysis: XAU/USD refreshes record top beyond $2,000 as risk dwindles
Gold bulls are unstoppable while taking the bids near $2,020 during the early Wednesday morning in Asia. The yellow metal pierced the $2,000 psychological magnet to refresh the record top the previous day. Though, the latest high of $2,026.36 tops it all amid the market’s rush to risk-safety.
The phrase seems to best describe the recent run-up by the yellow metal. Be it the uncertainty surrounding the much-awaited US fiscal stimulus or the coronavirus (COVID-19) resurgence, not to forget the latest flare-up in the tension between America and China, everything favors the precious metal bulls.
Gold Price Analysis: XAU/USD continues climbing after smashing through the $2000 psychological barrier
In great times of worry gold will always since and this time is no different. The COVID-19 pandemic has hit the economy hard with shops and business being forced to close due to lockdowns being imposed by governments. Even now the first wave been and gone countries like Australia are being forced to act again as a second spike of cases has been noted in some densely populated areas. The uncertainty that this brings is sending investors and trades toward safe-haven assets and gold is one of the biggest beneficiaries.
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