Illustration image. TOBY MELVILLE/REUTERS
The gold price
Record price in sight for gold: “Driven by dollar worries”
The gold price is hovering around its highest level in over a year and now has a new record level within reach, notes Bloomberg.
On Tuesday, trading closed at just over 2,000 dollars - the equivalent of 20,556.80 kroner - per ounce. The price lifted just over 2 percent after U.S. data showed job vacancies fell to lower-than-expected levels in February.
According to Bloomberg, the data is interpreted as the US economy may be on the way down.
- The gold price is now driven primarily by concerns about the US dollar, says analyst David Lennox to the news agency.
He adds that recent banking turmoil and geopolitical tensions have also attracted investors to gold as a safe haven.
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