Friday, November 8, 2024

Gold price again above $2,000

For the second time this year, the price of gold has broken through the all-important $2,000 an ounce mark.

According to goldprice.org, gold closed at $2,006 an ounce on Friday 27th October. At the time of going to press on Monday, it was trading just below $2,000 at $1,999.48 an ounce.

The price rise has been attributed to the current international instability, with the price of gold up 9% since the terrorist attacks in Israel on 7 October.

“Gold has a unique status among assets in that its price often rises with rising geopolitical concerns,” says a World Bank outlook report on commodity markets. “In the event of a wider conflict in the Middle East, gold prices are likely to rise from already high levels as investors shift to safe-haven assets.”

In March, gold had breached the $2,000 mark amid turmoil in the banking sector triggered by the collapse of Silicon Valley Bank. In 2020, the price of gold will exceed $2,000 per ounce for the first time in history.

Alice
Alice
Alice is a seasoned jewelry designer renowned for her exquisite creations that seamlessly blend artistry with elegance. With a passion for craftsmanship and an unwavering commitment to quality, Alice has established herself as a distinguished figure in the world of fine jewelry. Drawing inspiration from diverse cultures and artistic movements, Alice brings a unique perspective to her designs, creating pieces that transcend mere accessories to become timeless works of art. Her meticulous attention to detail and insistence on using only the finest materials ensure that each creation reflects not only her artistic vision but also a commitment to unparalleled craftsmanship. Having honed her skills through years of dedicated practice and a keen understanding of evolving trends, Alice is adept at translating her clients' desires into bespoke, one-of-a-kind pieces. Her portfolio encompasses a range of styles, from classic and timeless to avant-garde and contemporary, showcasing her versatility and ability to cater to a diverse clientele.

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