NEW YORK: Gold prices on Tuesday hit US$2,000 an ounce for the first time, the latest surge in a commodity seen as a refuge during economic uncertainty.
Gold prices have risen more than 30% this year as the coronavirus outbreak has weakened the economy and clouded the global financial outlook. “This comes as no surprise in view of the ongoing high numbers of new Covid-19 cases, the continuing cliffhanger in US Congress over an additional economic aid package, ever more widespread negative real interest rates and highly-valued stock markets.”
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