Gold prices rose on Friday in all major currencies, showing a small weekly gain in dollars at $ 1,735 an ounce and breaking through the 1400 threshold pounds an ounce for British investors. Equity markets around the world have soared to halve the losses of the past week after the announcement of the gradual de-containment.
Gold prices in the single market currency climbed 0.4% over the week to 1,543 euros per ounce.
[Why are these important and impact gold prices?]
The value of gold is now 25% higher than last year in almost all major currencies and private banks invite their customers to buy yellow metal , according to Reuters. It’s unheard of since 2009 after the Lehman brothers’ bankruptcy in late 2008.
According to Intl FCStone’s analysis for the second half of 2020, the fundamentals of supply and demand for silver and gold are trending upwards , but the outlook is down or neutral for the eight other metals studied by the precious metals bank team, including platinum, which is oversold but still in surplus.
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