How high can the price of gold go? – The National
- Date: 12-Apr-2023
- Source: The National
- Sector:Financial Markets
- Country:UAE
How high can the price of gold go? – The National
Gold is back. The precious metal has jumped around 10 per cent in the past month, sending the price above $2,000 for the first time in more than a year.
This is good news for gold investors but a warning shot for everybody else, because the price typically rises in times of trouble.
It has spiked in recent weeks due to the banking crisis and growing fears that the US is falling into a recession, and gold bugs are bullish, says Chris Beauchamp, chief market analyst at online trading platform IG.
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