On the global stock exchanges, gold prices reach approx. $1,580 per ounce, and in the native currency the quotations broke by PLN 6,200, which is the most in history, pointed out Bartosz Turek from HRE Investments.
The analyst added that the Iran conflict, trade wars, ultra-low interest rate policy, and recently the coronavirus attack in China explain the high gold prices on global exchanges.
Turek said that gold prices most often increase when fears rise in the world.
„They can be different and concern armed, political or economic conflicts. It is on the uncertainty and decrease in the sense of security that the popularity of the metal perceived as a safe haven for capital is built,“ he explained. As a result, he added, gold is already trading at around $1,580 per ounce or over $50 per gram. That is still almost 20 percent. less than a record from 2011.