[ad_1]
Every ounce of global spot gold rose by nearly $ 20 when it opened this morning, at $ 1,917.
At the beginning of the session on January 4, the weakness of the dollar pushed the price of gold to more than $ 1,900, the highest since September 11. Meanwhile, the Bloomberg Dollar Spot Index fell 0.1%, the lowest level since 2018.
Other precious metals, such as silver and platinum, also soared today. Silver rose 2.8% an ounce, while platinum hit $ 1,058 an ounce, the highest level since September 2016.
The world price of gold is shown in recent sessions.
The recent rise in gold prices has also been supported by news of falling real yields on US bonds. Last year, the world price of gold rose 25%, the most in a decade.
In 2021, the price of gold is expected to continue to rise and possibly up to $ 2,300. Analysts are bullish on gold, as central banks are likely to continue to keep monetary policy super loose next year. Furthermore, the growing inflationary pressure derived from the economic recovery in the second semester is expected to continue to keep real interest rates low or negative.
In the US, the number of new Covid-19 infections continues to rise, reaching a record high of nearly 300,000 per day after the Christmas season. The number of global infections has risen to 85 million. The United States is accelerating vaccination. Meanwhile, the UK considered tightening the lockdown as the number of new virus infections skyrocketed.
Ha Thu (Bloomberg, Kitco)
