Gold Passes $ 2,000
Gold values crossed the historical border on Tuesday, reaching over $ 2,000 for the first time.
ING said; “With investors continuing to pour into gold exchange-traded funds (ETFs), gold held last week increased by more than 820,000, breaking a record 108.51 million.”
Robert Carnell, Director of Research at the Asia Pacific Region at ING, said in a market article: “One factor in buying gold is the weakness of the dollar, but the dollar index has been experiencing some corrective hesitation in recent days. So I don’t think we can connect the last increase to this. Negative real interest rates are a longer-term and stronger reason to hold gold. Policy rate and long-term bond yields seem to be locked in for the remainder of this year and for the next year and even longer. ”
Gold futures gained 1.5% and climbed to $ 2,038.90.