The gold price has risen sharply since the coronavirus outbreak and the record level of September 2011 came in sight. Friday, the price rose to more than $ 1,900 per troy ounce.
The rise in the gold price has many causes and psychology is one of them, say specialists and analysts. The gold price has been on the rise recently, as investors are looking for safe havens because of the uncertainties surrounding the corona virus.
The price is also helped by global economic stimulus, such as interest rate cuts. Investments in gold are considered to protect against depreciation of currencies. The increasing tensions between China and the United States are also causing a greater interest in precious metals. For example, the silver price is also on the rise.