Gold pushed above $1,800 an ounce on Wednesday for the first time since 2011, with analysts expecting further gains as investors stock up on an asset they expect to hold its value while the coronavirus convulses the global economy.
FILE PHOTO: The Sicpa Oasis validator system is pictured on one kilogram bar of gold at Swiss refiner Metalor in Marin near Neuchatel, Switzerland July 5, 2019. REUTERS/Denis Balibouse/File Photo
Powering the rally is economic and political uncertainty caused by the COVID-19 pandemic and action by central banks, which have responded to slowing growth and the virus by slashing interest rates and flooding markets with cash. Financial investors, mainly in Europe and the United States, have been on an unprecedented buying spree.
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