Gold surges to 7-year maximum

Gold surges to 7-year maximum
  • Clock-gray 09:52
  • calendar-gray 07 January 2020

The price of gold jumped to its highest level for the first time in seven years (since 2013), APA reports citing Bloomberg.

Gold now costs $1588.13 per ounce (28 grams). The price of palladium also increased – it reached a record $2,027.91 per ounce.

The price of gold can rise even more. Experts predict an increase in its value up to $1,600 per ounce, if the tension between Washington and Tehran intensifies.

Gold may prove a better bet than oil amid rising tensions, according to analysts.

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