Due to US tariff policy
Gold price rises to record high again
The price of gold rose to a record high again on Thursday. On the London Stock Exchange, 2792.42 US dollars were paid for a troy ounce (approx. 31.1 grams) in the afternoon. That is more than ever before.
Kronen Zeitung als bevorzugte Google-Quelle hinzufügen Calculated in euros, the price of gold also reached a record high of 2677 euros per ounce. The price of gold has been on the rise since mid-December. During this time, the precious metal has risen in price by around eight percent. One price driver is investors' fear of the consequences of the new US government's tariff policy.
Observers also attribute the latest rise to weaker-than-expected US economic data. At the end of last year, the world's largest economy lost momentum. This also put pressure on the US dollar, which strengthened demand.
Plus in demand
"Lower interest rates usually benefit gold, as it does not yield market interest rates," said commodities expert Ole Hansen from Danish Saxo Bank. Market turbulence in the shares of large technology companies has also increased demand for investments, as these are considered safe, according to market observers.
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