gold finance

The price of gold has reached a four month record – reaching US$1,333.10 a troy ounce – as the US dollar dropped

The price rose for the third session in a row, with spot gold climbing to US$1,332.52 per troy ounce.

“There is a lot of doubt on how long prices have to run from here … Prices have risen despite the Fed [US Federal Reserve] raising interest rates and the main driver has been the US dollar, which we continue to see help gold run higher in the first quarter,” said Brian Lan, managing director at dealer GoldSilver Central in Singapore.

Gold had been hit as a store of value as many investors switched to cryptocurrencies but the latest price rise reinforces the metals preeminent position as a safe haven for capital.

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