Height of flight: the price of gold rises to almost 1990 dollars

The price of gold has made it to the start of the week where he left off last week – with records. In early Asian trading, the price of the precious metal rose

Height of flight: the price of gold rises to almost 1990 dollars

The price of gold has made it to the start of the week where he left off last week – with records. In early Asian trading, the price of the precious metal rose on Monday to just under 1990 dollars per Troy ounce (31.1 grams), before there was a counter-movement. A start-up to the mark of 2000 dollars was only a matter of time, said commodity analysts at Commerzbank.

Christian Siedenbiedel

editor in the economy.

F. A. Z.

in Euro was reached in 1690 Euro per fine ounce, a new all-time high. Jack Janasiewicz, Fund Manager at Natixis Investment Manager, writes that he will assume that Gold is "going to put his high-altitude flight". Commerzbank leads are indications that the price was not driven by speculation in the futures market.

The so-called net-Long positions of speculative investors, as it were, betting on futures markets, on rising, had gone back within a week, even by 16.5 percent to only around 117,000 contracts and, thus, almost returned to the low level from the beginning of June to return the favor. Obviously, a change in investors ' preference had taken place: Instead of futures they invested, the investors prefer Gold ETFs, so exchange traded index funds.

forecasts see the gold price at 2300 dollars

Since the beginning of last year, the price of gold has increased again, an additional boost he got by the Corona-crisis. In the past week, Gold had surpassed even the old all-time high from the year 2011, it was created in times of the Euro - and financial crisis and long years as a einholbar had been applied. In the spring of analysts of the investment Bank Goldman Sachs had been among the first who thought it possible that the uncertainty created by the Corona-crisis could drive up the price of gold over the record. You were right.

Updated Date: 03 August 2020, 09:20

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