The price of gold could rise above 2,000 US dollars (~1,838 euros) per ounce this year, although fluctuations in the price level are also possible during this year, according to the agency Reuters.
The price of the precious metal exceeded $1,900 per ounce in January this year, which is almost 20% higher than at the beginning of November last year. This was influenced by the inflation factor, in addition to a less aggressive central bank monetary policy in the future, ie central banks are slowing the pace of rate hikes, and rate growth is expected to eventually stop.
It should be recalled that soaring interest rates last year pushed the price of gold down to $1,614 in September, down from $2,070 in March, and this price is in turn close to a record high in 2020. Higher rates pushed up bond yields, making gold less attractive to financial investors, and boosted the dollar to its strongest level in 20 years, making gold more expensive in dollar terms for many buyers.
A weakening US dollar and falling bond yields will be a turning point for the yellow metal, pushing the price of gold above US$2,000 an ounce in the coming months, reports Reuters. As pressure on the dollar and bonds eases, investors are likely to buy precious metals as a hedge against inflation and
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