London/Frankfurt (dpa -AfX) – The gold price climbed on Friday for another record high. A troy ounce (about 31.1 grams) at times reached the $ 3,600 mark. Finally, the precious metal again noted a few dollars below. The steep rally continued this week. The background is an unexpectedly weak US labor market report that the bets on one Interest rate the US Federal Reserve strengthened in the course of the month.
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Lower loan costs tend to increase the attractiveness of gold, which was also supported by the strong demand for secure systems in view of the concerns about the future of the US Federal Reserve Fed.
Both gold and silver have more than doubled in the past three years, with increasing risks in geopolitics, economy and world trade. The escalation of the attacks by US President Donald Trump against the Fed this year has increased the concerns about their independence./NAS/GL