Against the background of recent events, the price of gold has shown a lot of records in many currencies of the world. But at the same time, the price of the yellow metal has not yet updated the maximum set in September 2011 against the US dollar. We remind you that at that time, the price of gold was about $1921 per ounce.
The yellow metal updated highs against the Australian dollar, euro, Chinese yuan, Indian rupee and South African Rand. However, such growth was not easy for this precious metal. After all, during the correction in the stock markets, many investors needed additional liquidity and cash, the lack of which they compensated for by selling off gold.
However, this episode had a positive impact on the prospects of this asset. Gold became more accessible, which in the end-served as a signal to action for investors who wanted to balance their portfolio.
Thus, it is safe to say that now is the right time to enter the yellow metal market. An uptrend interrupted by corrections is an excellent time to make a profitable purchase of this precious metal, and the steadily increasing demand provoked by the crisis will be an excellent protection for your investments.
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