Gold Prices Climb to All Time High - ResearchAndMarkets.com

ResearchAndMarkets.com published a new article on the gold industry "Gold Prices Climb to All Time High"

Gold prices recently rose to an all time high of over $2000 per ounce as a result of uncertainty about global economic recovery combined with lowered interest rates and a weakening US dollar. Gold prices had been on the rise since March as real interest rates began to fall to below zero leading to diminished returns on bonds. Gold is often considered a safe investment that will hold its value even in times of financial crisis however, bonds are usually considered a more attractive option since unlike gold they yield a return.

Lowered interest rates have reduced the opportunity cost of holding gold which has helped to fuel interest among investors looking to diversify their portfolios. The continued rise in COVID-19 cases and the possibility that some countries could have to enter a second lockdown to prevent the spread of the virus are also driving interest in gold as a safe haven investment. Analysts predict that gold prices could continue to rise if the US dollar continues to weaken and could even climb as high as $3000 per ounce.

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