The price of gold continues to rise and is the big deal in the crisis

Since the world went into crisis due to the coronavirus outbreak, investors have been surprised by the increase in the price of oro.

This precious material recorded a record figure in the world with a cost above US $ 2,000 an ounce (more than 7 million Colombian pesos) for the third day in European markets.

Likewise, gold bullion is up 36% this year and analysts agree that it will continue to rise in the coming months.

According to Mark Haefele, chief investment officer at UBS Group AG, Gold prices “could exceed US $ 2,300 (more than 8.6 million pesos) in the short term,” he told the newspaper Portafolio.

Why does it keep going up?

While gold is considered a haven in times of crisis by investors, lor what is happening with the pandemic may exceed historical figures.

According to the information in the Portfolio, the metal continues to consolidate by stimuli from governments and central banks to their affected economies by the virus.

Likewise, analysts such as Julius Baer attributed the milestone to fear in the market for the approval of more economic aid by the United States to cope with rising inflation and a falling dollar.

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