Gold Price Hits Highest Level In Almost a Decade

In late-May, MarketWatch, a website that provides financial information and business news, predicted that gold prices could reach a record high by the end of this year with Darwei Kung, a portfolio manager and head of commodities at the asset management firm DWS Group, saying that he expects gold prices to gradually increase over time.

The price of gold at the Comex exchange has increased by 0.6% compared to the previous session's close, reaching $ 1,904 per troy ounce.

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— Super Stocks (@MinteractApp) July 24, 2020

​The last time the price of gold was above $1,900 per troy ounce was in September 2011.

In April, data released by CME Group, the world's largest financial derivatives exchange, indicated that gold prices had skyrocketed to their highest since November 2012.

The increase came after oil prices slumped earlier in April due to lingering concerns over storage capacity and the threat of a new round of the tariff war between the United States and China.