Gold may rise to record

Gold may rise to a record 2 thousand dollars per ounce against the background of measures to limit the negative impact of the pandemic coronavirus.

Золото может рекордно подорожать

About it reports Bloomberg with reference to the head of the gold mining company Newmont Corp. Tom Palmer, reports the Economic truth.

“The level of stimulus flowing into the world economy, of course, is the basis of higher gold prices in the long term,” he said.

“Gold is likely to trade in a range from 1500 to 1750 dollars per ounce during the next two to five years,” added Palmer.

He added that, apart from stimulus measures of Central banks on gold prices will affect the demand for the precious metal in China and India.

Note that at the auction on 17 April gold is trading around $ 1,700 per ounce.