Strong growth in the price of gold

Gold ingots smugglingGold bar. Photo: Pixabay

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Thursday, an ounce of gold was worth $1,619. If a Norwegian had bought gold a year ago, the value of the gold would have increased by 30 percent until now.

Measured in euros and the yen, the price of gold was a record high on Thursday, writes Finansavisen.

We have to go back to 2013 to find a similar price level. Experts believe that the virus fear is one of the causes of the sharp rise in prices.

“As long as the coronavirus dominates the headlines, gold prices will have solid support at these levels, and if the situation worsens, prices could go even higher,” SP Angel analyst Sergeij Raevsky told Reuters.

© NTB Scanpix / #Norway Today

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