Gold Price Hits Record High of Over $3,400 per Ounce
The price of a fine ounce of gold has risen by 86 US dollars at the beginning of the week, reaching a record high of 3,414.60 US dollars, which is the first time in the history of gold trading. The price of gold in euros is currently 2,963.87 euros and is approaching the psychologically important mark of 3,000 euros per fine ounce (as of Monday, 15:25 MEZ). Both figures are based on the largest relevant stock exchanges. The trading on the North American stock exchanges is driving the price up.
Different reasons are being cited by stock analysts for the noticeable increase in prices – 2.61 percent in dollars and 1.45 percent in euros. Apparently, there is a flight to “safe havens” from the US dollar. The dispute between US President Donald Trump and the head of the Federal Reserve, Jerome Powell, is seen as one of the possible causes. There is uncertainty about the future monetary policy in the United States.