2600 dollar mark
Gold price continues to rise despite record value
The prospect of further falling interest rates in the USA is driving the price of gold to new record highs. Since the beginning of the year, the precious metal has already gained more than 26 percent.
At its peak on Friday, gold rose by 1 percent to 2612.60 dollars (2341.90 euros) per troy ounce. This once again surpassed the previous high of 2319.30 euros per ounce.
US Federal Reserve also cuts interest rates
On Wednesday evening, the US Federal Reserve lowered its key interest rate for the first time since the beginning of the decade - by half a point to a range of 4.75 to 5.00 percent. At the same time, further steps were signaled. As gold does not yield interest, the precious metal rises in price when interest rates on government bonds, for example, fall.
The interest rate cut by the European Central Bank (ECB) a week ago also led to a rise in the price of gold.
Gaza war as a price driver
Most recently, even the Gaza war between Israel and the Islamist terrorist organization Hamas and the associated concerns about an escalation of the conflict in the Middle East drove the price of gold up several times.
This article has been automatically translated,
read the original article here.
Da dieser Artikel älter als 18 Monate ist, ist zum jetzigen Zeitpunkt kein Kommentieren mehr möglich.
Wir laden Sie ein, bei einer aktuelleren themenrelevanten Story mitzudiskutieren: Themenübersicht.
Bei Fragen können Sie sich gern an das Community-Team per Mail an forum@krone.at wenden.