The gold price is skyrocketing. We are in a phase where it does not matter if stock markets are going up or down: investors are buying gold anyway. The recent weakening Dollar has been another supportive element, as investors are continuing to bet on further dovish decisions from central banks in order to mitigate the economic impact of the Covid-19 crisis.
Technically the spot prices climb above $1,790 opened space for further rallies, with bullion jumping above $1,810 after a fifth session in a row in green. Bullion price is now just 6% below its highest ever level in USD, while the price in EUR and other currencies also remains close to record highs.
