Sought-after precious metal: the price of gold rises to highest level in seven and a half years

The message sounds a bit post-crisis-panic: The price of gold has risen on Tuesday afternoon to its highest level in approximately seven and a half years. In th

Sought-after precious metal: the price of gold rises to highest level in seven and a half years

The message sounds a bit post-crisis-panic: The price of gold has risen on Tuesday afternoon to its highest level in approximately seven and a half years. In the top of a fine ounce of Gold (31.1 grams) of cost well-1767 dollars. That was always a backdrop, the highest level since the year 2012. Little reassuring that dasRekordhoch for the gold price from the year is 2011 von1921 Dollar is still a good piece. In Euro terms the gold price in the Corona had reached Crisis all-time highs.

Christian Siedenbiedel

editor in the economy.

F. A. Z.

the investors Lose nerve now, so, but, after it had been given to the international disturbing news about the course of the Corona pandemic? Also new news about the tense relationship between the United States and China could have boosted the gold price, it said in the financial markets.

Low Dollar

there were, However, also an explanation for the more expensive Gold, which didn't sound so pessimistic. Oil and Gold seem to become more expensive, because the Dollar was weak overall. And this was due, in addition to certainly the difficult development in the United States, apparently, in part, by comparatively strong economic data from Europe.The market research Institute IHS, Markit raised the purchasing managers ' index rose significantly more than expected. Particularly positive is the development surprised in France. Markit Economist Phil Smith said also of the "increasing signs of life in the German economy".

"However, the economy should not be early translated indicators currently in growth curves," warned Thomas Gitzl, chief economist of VP Bank. "The economy is berappeln after the pandemic shock only slowly."

The Dax is not developed in any case badly - that's not to suggest that the rising price of gold was not necessarily a sign of a "flight to Gold".Shortly before closing time the state of the German benchmark index, 1.6 percent in the Plus on 12.534 points.

Updated Date: 23 June 2020, 19:20

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