Gold price nears $2,000: Should you invest now? – ZAWYA

Gold price nears $2,000: Should you invest now? – ZAWYA

Gold price nears $2,000: Should you invest now? Analysts cite reasons why more investors would prefer to buy now    Gold bars and coins are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, August 14, 2019. Investors prefer to buy stocks, property and other assets at a low price to maximise returns. However, when it comes to gold, the 'buy low' strategy doesn't seem to be always the case.According to analysts, more investors will continue to buy into gold, which is now nearly $300 pricier per ounce compared to a year ago. This is because the metal hasn't shown signs of peaking yet, and prices are more likely to keep going up until it becomes clear that the economy is on a sustained recovery path.The bullion smashed records and climbed to new heights on Tuesday morning, hitting $1,980 an ounce, mainly due to jittery investors looking for safe-haven assets amid economic growth concerns due to spiking coronavirus cases and rising tensions between the US and China.  Considered a hedge against any uncertainty, the metal has also gained support from a weakening American currency, as well as from low interest rates.According to analysts,