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Gold price tops $2,000 as experts focus on driving momentum

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The price of gold has finally topped the fabled $2,000-per-ounce mark, as experts have been forecasting in recent weeks.

Most felt it was only a matter of time before the price of gold per ounce against the US dollar hit $2,000 (£1,527), though the spike has left experts wondering how best to avoid a crash of similar proportions.

While other precious metals have seen similar trends during the pandemic, none have risen as sharply as gold.

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However, some UK jewellers have been advising customers that buying platinum jewellery is a more affordable option right now.

Meanwhile, the Financial Times reported earlier today that SPDR Gold Shares and other exchange traded funds (ETF) have been largely responsible for the spike as they buy bullion in bulk.

SPDR Gold Shares, it reported, now owns more gold than the central banks of both India and Japan.

Gold prices have been a hot topic in recent weeks, with many forecasting this moment was inevitable. Read more below:

Gold price continues to surge past previous record high

Tags : Gold pricegold pricesrising gold prices
Sam Lewis

The author Sam Lewis

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