Gold prices rose above $1,700/oz to their highest level since 2012 as investors seek safe haven amid the global pandemic, per ANZ Bank.
“Concerns about economic growth and high levels of debt continue to support gold.”
“The latest wave of buying was sparked by the announcement last week that the Fed will invest up to $2.3trn in loans to aid small and medium sized business, as well as local governments. This is on top of the massive stimulus that they had already announced."
“Investors are also getting increasingly concerned about the impact of COVID-19 on emerging markets.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.