Gold Finally Hits A Fresh Record High

The price of gold has risen to record highs not seen since September 2011.

The price of gold has risen to record highs not seen since September 2011. While investors have fled to safe-haven markets amidst rising coronavirus cases and US-China tensions, overnight blasts in Beirut - which have killed dozens and wounded thousands - added more fuel for gold buying.

Gold finally hits a fresh record high

Gold is now up more than 30% from where it opened at the start of the year. Many investment banks and analysts are now calling for $3,000 with the uncertainty of the US Presidential elections and Brexit coming up in the second half of the year.

The price of silver has also performed well so far this year, up more than 45%. Deutsche Bank analysts believe that silver could outperform gold due to its industrial usage which is most likely set to increase when the world economy picks up again.

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