Gold price hits new high, as investors seek safety

In a new high, an ounce of gold rose to almost USD 1,260 last week. The previous record was USD 1251,2.

During the trading session last Friday, spot market gold reached a maximum of USD 1,257.85 per ounce, before returning to USD 1,256.45 per ounce at 12:15 GMT on the European market, compared to the USD 1,234.4 at the end of the previous day in the US.

Among the factors influencing the sudden growth in the price of gold is investors’ concern that loose monetary policy will unleash inflation.

Poor economic reports for the US and a weakened dollar were also reasons for investors doubting the American currency’s strength.

Corina Dumitrescu

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