Gold soared to new all-time highs overstepping $ 2000
Gold prices reached new highs today, breaking $ 2000 per troy ounce. Above this bar, they did not rise in the entire observation history. At 9:43 am on the Comex exchange, the precious metal was trading at price of $ 2042.10. On the way to the psychological level of $ 2000, there are few quotes hesitated, but investor interest in safe assets took top. The demand for precious metals is supported, on the one hand, by the current the situation with the coronavirus, on the other - the weakening of the dollar. The latter circumstance was facilitated by the news about the promotion negotiations between Republicans and Democrats on a new package support for the US economy in the amount of $ 1 trillion. These funds will taken by the US authorities on credit, and the Fed, in all likelihood, this loan will have to be monetized, which weakens players' confidence in American currency. The fall in the dollar stimulates the demand for gold, as it becomes more affordable for investors using foreign currency and exchanging it for the dollar.