Spot Gold Smashes Through $2,000 With Haven Seekers Piling In
- Growing economic, political risks boost precious-metal demand
- Hopes for further U.S. stimulus measures also help gold buying
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Spot gold soared to a record above $2,000 an ounce as investors continue to seek a haven for their assets amid daunting economic and geopolitical risks.
Gold has rallied in the past year as the coronavirus pandemic prompts unprecedented amounts of stimulus to shore up economies, including lower rates, which are a boon for non-interest-yielding gold. Simmering geopolitical tensions -- including a massive explosion at Lebanon’s main port on Tuesday -- are also boosting demand.