Experts explain how coronovirus changed the price of gold

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Coronavirus became the only major factor shaping gold demand

Experts described how coronovirus changed the price of gold. Photo: newsweek.com

Gold prices can arrive amid a growing uncertainty around the coronovirus epidemic and negative interest rates, which are increasingly used by central banks in many countries.

Analysts at Swiss investment bank UBS Joni Teveza believe that gold prices may rise to $ 1800 an ounce. According to him, in the near future, UBS will focus on a target price of $ 1,790 per ounce.

Last week, the World Gold Council published a report on demand trends for precious metals in the first quarter of 2020, stressing that the global outbreak of coronaviruses is “the biggest factor affecting gold demand.”

“As the scale of the epidemic and its potential economic impact began to emerge, investors looked for safe assets. Against the backdrop of global uncertainty and financial market volatility, gold received the highest quarterly investment in the past four years,” the report stated in.

Summary PAYSPACE magazine

Remember that the worst investment option is to invest in jewelry. The price of such products is incredibly mobile and subject to speculation – the cost will be very different from the cost when purchasing. That is, it is possible that the jewelry purchased may not be sold at half the cost while purchasing after the crisis. Details are in PaySpace magazine.

Read: Famous Nobank trades directly in gold in application

By content: Cnbc


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