The Rising Gold Price Has Reached a New Milestone: You paid 100,000 euros for 1 kilo of the precious Metal Today. It has never cost so much before. The Price Rose Rapidly Due to Economic Uncertainty and a Possible Interest Rate Cut in the United States.
Earlier in the day, the gold price broke through to 100,000 euros per kilo. It is now slightly below that again, but the expectation is that the price will continue to rise. The Gold Price Has Already Increased by 39 percent this year. You pay more than 3000 euros for a troy ounce (31.1 grams) or Gold.
The Economic Uncertainty in the World and the Trade War of the United States Make the Shiny Metal More Interesting for Investors. In recently days, Gold Has Risen Even More, due to disappointing job figures from the us. As a Result, More Investors Expect The American Central Bank to Lower Interest Rates.
Us President Donald Trump is also Putting Pressure on Jerome Powell, Chairman of the Central Bank, to Lower Interest Rates. This interference is SEEN AS A Threat to the Independence of the Central Bank, which Makes Investing in the Country Less Reliable. This also Makes Investors More Attracted to Gold.
A Lower Interest Rate Makes The Dollar Less Valuable and the Precious Metal Is Priced Worldwide in Dollars. This Allows Investors to Buy More Gold for, For Example, Their Euros, which also drives up demand. The Same Applies to Silver, which is also rising in price.