Gold soars to highest prices since January

By TPN/Lusa, In Business, Economy, World · 26 May 2021, 16:23 · 0 Comments
Gold soars to highest prices since January

The price of gold, considered a good of refuge in times of uncertainty, surpassed on 26 May 1,900 dollars per ounce, the highest level since January.

According to Bloomberg data collected by Efe, gold was traded at 1,906.93 dollars, the highest level since 7 January, when it ended the session at 1,913.95 dollars per ounce.

Gold is thus again approaching the peak levels reached on 6 August 2020, when it ended the session at $2,063.54.

IG analyst Diego Morin, quoted by Efe, explains that in recent weeks gold prices have continued to recover, while the dollar continues to be pressured.

"The existing fear of an increase in inflation causes investors to rotate into the precious metal," adds the expert, who also says that the latest macroeconomic data from Europe and the United States "do not encourage optimism".

Gold is up more than 10 percent since last April, when it hit a low of $1,683 per ounce.

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