Earlier this week, gold crossed USD 2000 per troy ounce for the first time thus recording its highest level to date. Price of gold is inversely related to the dollar. This is because gold price is denominated in dollar. So, weaknesses in dollar get reflected as increase in price of gold. As we are going through uncertain times, due to the Covid-19 pandemic, and the stock market in the US has also been down, dollar has weakened. But, will gold prices remain high for long? Continue reading “Gold at historical high”
