Gold: $4600 per ounce: Why the gold price has risen sharply
Gold prices have risen by almost 14 percent since the beginning of the month. If they maintain their level, this is the largest monthly increase in 27 years. However, why investors should be cautious.
The gold price has risen by almost 14% since the start of the month, from around $4,000 to $4,600 per ounce. This increase is attributed to growing investor interest, triggered in part by the US intervention in the bond market, which has eroded trust in the financial stability of the US and the dollar. According to Markus Blaschzok, chief analyst at Solit-Gruppe, if the gold price remains at its current level by the end of the month, it would be the strongest monthly increase in 27 years.
The US Treasury's announcement of doubling its planned bond purchases to at least $4 billion also contributed to the price rise, with gold increasing by over 4% following the news.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
