![](http://www.ajokar.ir/images/uploaded/news/01-Copy-2.jpg)
Analysts say concerns about the coronavirus in the United States and sustained economic weakness have led people to turn to safe-haven assets such as gold, and gold is facing increasing buying demand amid economic and political uncertainties .
Reuters believes; Another factor that supported the rise in gold prices was the dollar index, which was close to its lowest level in a recent week.
Gold for immediate delivery rose 0.1 percent to $ 1,768.50 an ounce in Singapore today, according to the Gold Cafe . The metal had climbed to $ 1773 in early Asian trading, the highest price since October 2020.
According to Reuters, another factor that supported the growth of gold prices was the dollar index, which was close to its lowest level in a recent week.
Corona virus and rising gold in economic and political ambiguities
Concerns about the second wave of the Corona virus, especially in the United States and Latin America, have heightened concerns about the continuing weakness of the economic recovery, which has certainly supported safe-haven assets such as gold, according to Daniel Haynes, an analyst at ANZ Banking Group. It has also supported stimulus measures by central banks through bond-buying and monetary easing programs.
The world's central banks have implemented extensive fiscal stimulus measures and kept interest rates low, which has helped push gold prices up more than 16 percent this year. Gold faces rising buying demand amid economic and political uncertainties.
US Treasury Secretary Steven Manuchehr has said he intends to take further stimulus measures to get people back to work as soon as possible, and he intends to delay the deadline for filing tax returns as much as possible.
Several U.S. states have reported an increase in coronary heart disease and deaths, and the number of Latin American casualties exceeded 100,000 on Tuesday.
The European Union (EU) is preparing to ban travelers from the United States in response to rising coronavirus infections, placing the United States among infected countries such as Brazil and Russia, the New York Times reported.
The price of world gold has climbed to its highest level in the last 8 years
The price of gold in trading today, Wednesday, July 25, 1999, the global market, due to the demand for safe haven, rose to its highest level in more than eight years following the escalation of concerns about the spread of coronavirus cases. Gold for immediate delivery rose 0.1 percent to $ 1,768.50 an ounce in Singapore today. The metal had climbed to $ 1773 in early Asian trading, the highest price since October 2012. In the US futures market, gold rose 0.2 percent to $ 1,785.50 an ounce .
In other precious metals markets, an ounce of Pd for immediate delivery rose 0.1 percent to $ 1,925.31 an ounce. Platinum for immediate delivery fell 0.5 percent to $ 825 an ounce. Silver for immediate delivery fell 0.5 percent to $ 17.87 an ounce.
Read more