Gold has topped $2,000 an ounce for the first time ever as traders look for safe havens amid the pandemic.
The yellow metal is now higher by more than 30% in 2020, supported by a weak US dollar, low yields, and hopes for more stimulus measures.
Gold prices are likely to continue their upward journey as the price has broken a major psychological resistance level.
Gold has all the reasons to climb even higher, considering the weakening US Dollar, expectations for inflation, and the unprecedented levels of monetary stimulus from governments and central banks all around the world.
The driving factors for the precious metal are widely expected to stay for a while longer, and gold prices are likely to continue to shine for some time.
DISCLAIMER: This content is for presenting general information only. Any research or information mentioned here is objective and does not take into regard your financial position, investments, or objectives. INGOT Brokers (Australia) Pty Ltd accepts no responsibility for any use that may be made of these comments and for any resulting consequences. We do not give any warranty in regard to the completeness of this information or its accuracy and thus its use. Leveraged trading carries a high risk and is not suitable for all, and anyone who uses leverage is doing so entirely at their own risk.