Investors leaned toward safe havens amid uncertainty in the markets over the spread of the coronavirus.
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Rising global coronavirus cases and fears of a new wave have contributed to declines in major stock indices and global stocks, while traditional safe havens such as precious metals have gained investor confidence.
Spot gold has risen to its highest level at quote to $ 1,943 an ounce and exceed its record price of $ 1,921 an ounce reached in September 2011. During the Asian session, US gold futures reached increase up to $ 1,955 an ounce after an increase of 1.55%.
The rise in gold prices is explained not only by its status as a safe haven among investors tending to more predictable assets during the pandemic, but also by geopolitical factors, such as rising tensions between the US and China. that generates the caution of the stock brokers, and others, such as the weakening of the US dollar or measures by governments and central banks around the world to boost economies.
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