This year the gold price has already risen by around 50 percent, partly due to uncertainty about the policy of US President Donald Trump. The uncertainty has grown now that the publication of the employment figures has been delayed. Those figures should have come on Friday, but the publication was postponed by the government closure. The political unrest in France would also drive traders towards gold.
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Furthermore, the gold price is pushed by the expectations of more interest rate cuts by the US Central Bank. With a lower interest rate, gold becomes a more attractive investment. Due to the weak dollar, gold becomes cheaper for investors with other currencies, which stimulates demand. In addition, central banks, especially in China and India, also buy more gold due to economic uncertainty.
Optimism
Connoisseurs expect the gold price to rise even further. For example, the American investment bank Goldman Sachs said this week that the prize can rise to $ 4,900 by the end of next year. Earlier here was counted on $ 4300.
Other precious metals also went up. The silver price rose to more than 48 dollars per troy ounce. At the beginning of last month, the silver price went through the 40 dollars for the first time since 2011. Platinum and palladium also became more expensive.