Gold soars to a record price: $2,111 per troy ounce
Experts explain that geopolitical tension and the weakness of the dollar are behind the historic rise.
(Cordon Press)
Gold reached a new historical value this Monday, exceeding $2,100 per ounce. Although it later fell, it reached the record figure of $2,111 per troy ounce.
"Traders are swimming with the tide," Metals Daily CEO, Ross Norman, told the Financial Times. Among the causes of the rise, the expert cited the "falling dollar," coupled with the current geopolitical uncertainty and the seasonal period.
Metal prices have risen for two consecutive months. And it seems that they will continue to rise: the weakness of the dollar, possible interest rate cuts and global geopolitical uncertainty could keep the price above $2,000 next year, according to analysts cited by CNBC.
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