Coronavirus hits gold price, reaching its highest level since 2013

UNITED STATES (OBSERVATORY NEWS) — When it appeared that with the signing of the first phase of the trade agreement between the United States of America and China, the world economy would begin to stabilize somewhat, this was not the case.

The outbreak of Coronavirus in China, which has so far killed 170 people in China and many others outside it, shook markets again in a very short time. Supply chains have been hit hard because of suspended domestic economic activity, which determines the fate of the entire world economy.

Gold, as one of the safe assets that investors choose in such cases, was among the few that, despite the market slide, became even more valuable on the stock exchange.

Gold is now 20 percent higher than last year and traded around $ 1,600 an ounce (1 ounce = 28 grams), its highest level since 2013, albeit well before people around the world heard about it. seen in life Coronavirus, gold had started the upward trend.

Other precious metals, such as silver and platinum, also increased in value. However, experts believe the price will rise further, even if the situation in China deteriorates, gold could reach $ 2,000 in the not too distant future. Its highest price, at $ 1,900 per ounce, was recorded in 2011, in the wake of the European debt crisis.

Already around the world, investors are beginning to worry about a new uncertainty on the horizon, China as one of the most important countries in the world economy.


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