Spot gold breaks through $2,000 on Covid and geopolitical tensions
Investors seek safe-haven metal amid daunting economic and geopolitical risks
04 August 2020 - 20:48
New York — Spot gold soared to a record above $2,000 an ounce as investors continue to seek a haven for their assets amid daunting economic and geopolitical risks.
Gold has rallied in the past year as the coronavirus pandemic prompts unprecedented amounts of stimulus to shore up economies, including lower rates, which are a boon for non-interest-yielding gold. Simmering geopolitical tensions — including a huge explosion at Lebanon’s main (https://www.businesslive.co.za/bd/world/middle-east/2020-08-04-huge-blast-rips-through-beirut-port-in-lebanons-capital/) port on Tuesday — are also boosting demand...
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