Gold eyes $2,000 mark in speedy record - breaking run - Business News

published 28.07.2020 02:08

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Analysts said the slide in the rival safe-haven dollar was the tipping point for gold's latest surge, with the greenback plunging to a two-year low.

LONDON/BENGALURU (Reuters) - 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.

Analysts said the slide in the rival safe-haven dollar was the tipping point for gold's latest surge, with the greenback plunging to a two-year low.

Spot gold prices 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.

By Arpan Varghese and Peter Hobson LONDON/BENGALURU (Reuters) - 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.

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