The Price Of Gold Exceeded $1910 Per Troy Ounce For The First Time Since September 2011
The price of gold in the course of trading on the Comex exchange rose by 0.8% to the closing level of the previous session and reached $1912 per Troy ounce, according to data from the trading platform.
The last time the price of gold was above the level of $1910 per Troy ounce in September 2011.
When the global markets were hit by a crisis in March due to the massive introduction of quarantine measures in many countries, the gold market also failed to avoid a fall. The spot price of an ounce of gold in the first half of March fell for a week from $1,700 to $1,450 during trading, but then began to recover quickly. In early July, its price rose to $1,781 per Troy ounce.
Bank of America in May raised the target price of gold for the next year and a half from $2000 to $3000 per ounce. The Bank's forecast for the average price this year is $1,695, and next year it will be $2,063 per ounce. According to Refinitiv, in 2020, its average price will be $1,637 per ounce, while later, it can be reached and overcome the $1,800 mark.