Gold prices, which have increased rapidly in the past few weeks, have reached the highest level in the last seven years. Some experts expect the price of gold to increase slightly.
News From China
The spot price of gold has approached the level of 1400 and the futures price to $ 1800. Thus, the record of the past seven years has been broken.
Gold prices are thought to have increased after news mainly from China. According to data published a few hours ago, China’s exports decreased by 6.6% and imports by 0.9% in March. This is considered to be a positive development because experts predicted that exports would decrease by 13.9% and imports by 9.8% until recently. But apparently the Chinese economy was not heavily affected by the Coronavirus.
Increase May Come
With the gold price approaching $ 1800, experts think that the increase in gold prices may continue for a while.
UBS, one of the largest financial companies in the world, recently made an estimate of gold prices and announced that the price could withstand the $ 1800 limit.
We can see an increase in the prices of products such as Bitcoin if investors switch to safe ports such as gold. But it is not possible to predict exactly what investors will make.