The COVID-19 pandemic rebounding all over the world (reached a total number of over 22M confirmed cases) and the disastrous explosion in Beirut may be two of the reasons that pushed Gold price at all-time high spike. Its price climbed at $2,069.29 per ounce on the 6th of August 2020 compared to the lowest price registered during June of $1,683.86 per ounce.
The hopes for a COVID-19 vaccine, the sudden fall of US real yields and the consequent strengthening of the US dollar, saw Gold price plunging to $1,951.43 per ounce, on the 13th of August, showing a decrease of around 5,7% in one week and compared to the 6th of August. Many experts are asking the same question: where will Gold go next?
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