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Akos Stiller
While the price of gold reached record highs as a safe haven in times of trade and geopolitical tensions, the precious metal regained a position it had previously lost.
Spot gold today rose to $ 1,539.54 an ounce, approaching the high of April.
Below is a graph showing the evolution of the price of gold over 5 years:
Bloomberg
The trade war between the world's two largest economies (the United States and China) rocked the markets more than a year ago, raising fears of a slowdown in the global economy, pushing the economy back up. Gold, often considered a safe haven in times of global uncertainty.
When the price of gold rose, the precious metal regained a position that it had lost to palladium.
In July, the price of palladium was 1,571.15 dollars an ounce, while that of one ounce of gold rose to 1409.55 dollars.
Gold is currently trading at $ 1539.54 per ounce, compared to $ 1479.67 per ounce for palladium.
Palladium is a rare silvery white metal mineral, a precious platinum group metal. It is used as a catalyst in the jewelry industry and in the field of dentistry.
The following is a graph showing the evolution of the price of palladium in about 5 years:
Bloomberg
Source: agencies
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