BREAKING Gold Price Over 1,900! Is Gold About to Reach All Time Highs?

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The gold price is set to surge to record highs this year analysts have said, as investors flock to 'safer' assets amid the coronavirus pandemic.

The US dollar gold price today reached a nine-year high today and is currently hovering at around the $1,856 mark. The all-time record is $1,920.
Recent gold forecasts talk about a new record high for gold against the US dollar. But any gold price forecast should keep in mind that some profit taking could take place, as we’re already seeing a drop to the $1890 level.

The gold chart already at record highs against all other G8 currencies, Michael Hewson, chief analyst at CMC Markets UK, said.

With savings rates at rock bottom, further mass job cuts on the horizon and uncertainty permeating the economic outlook, it is no wonder that a growing number of investors are looking to gold to get them through the financial turbulence triggered by the pandemic.

In March, the price of gold started falling as the magnitude of the pandemic kicked in and investors turned to the ultimate safe haven of cash. But, since mid-March, the price of the yellow metal against the US dollar has surged over 20 per cent.

There are mounting fears we could see a second spike in Covid-19 cases in the world's leading economies.

With this in mind, the gold price chart looks set to continue to rise over the coming months amid strong seasonal demand and continued uncertainty over the outlook for the global economy.

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