LONDON/BENGALURU - Gold’s record rally is moving tantalisingly close to the psychologically key $2,000 level, powered by investors seeking cover from COVID-19’s global economic toll, as reflected in dollar weakness, faltering stocks and U.S.-China trade tensions.
Spot gold prices XAU=have surged 53% in the last 14 months, blowing past 2011’s record high of $1,920.30 an ounce to an all-time peak of $1,943 earlier on Monday. This has fuelled fears of inflation, which would typically devalue other assets, and has also lowered returns on government bonds, making gold more attractive.
Gold up little over 20% YTD, bitcoin up over 40%, don't miss the forest for the trees.
With massive print of dollars that currency is not trustworthy
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