{"id":795,"date":"2020-08-07T00:30:42","date_gmt":"2020-08-07T00:30:42","guid":{"rendered":"https:\/\/businessner.com\/?p=795"},"modified":"2020-08-06T08:53:28","modified_gmt":"2020-08-06T08:53:28","slug":"gold-prices-surge-is-it-time-to-invest","status":"publish","type":"post","link":"https:\/\/businessner.com\/gold-prices-surge-is-it-time-to-invest\/","title":{"rendered":"Gold Prices Surge: Is It Time To Invest?"},"content":{"rendered":"
Gold prices surged past the $2000 per ounce threshold on Tuesday (August 4) for the first time reaching a peak of $2020 per ounce.<\/p>\n
The price of the precious yellow metal continued its rally on Wednesday (August 5) as it reached $2048 per troy ounce.<\/p>\n
This as investors get bullish in capitalizing on the weakening dollar and the uncertainty of various economies due to the COVID-19 pandemic and the lockdowns that have crippled businesses.<\/p>\n
Spot gold prices have been on a steady increase this year posting an over 30% surge for 2020 alone.<\/p>\n
Gold prices have been increasing from a starting point of just $1,500 per ounce in January to close to $2000 in just a matter of six months by July.<\/p>\n
Aside from Gold, the price of another precious metal Silver has also been on an upswing at $27.03 per ounce recording a 5% increase while copper prices are at $2.92 per pound.<\/p>\n
The reason for gold prices continuing surge is the cloud of economic uncertainty brought about by the Coronavirus pandemic.<\/p>\n
Another factor seen by analysts as contributing to the gold price increase is the ongoing economic and geopolitical tensions of the trade war between the US and China.<\/p>\n