The price of god crossed the $2,000 per ounce (31.1 grams) milestone for the first time in a year on Monday. Investors regard gold as a reliable investment, especially against the backdrop of a chaotic week on the US and European markets.
On Monday morning, the price of an ounce of gold topped out at $2,008.55 on the London Stock Exchange. The last time the price of gold was this high was on 10 March, shortly after the start of Russia’s war in Ukraine.
Gold is often used as a “hedge” or a safe-haven asset in anticipation of market decline because the price does not typically move with market prices. Return on gold is entirely based on price appreciation. Despite this, its price can sometimes be volatile.
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Other metals are also popular investment choices. These include copper, silver, platinum, and other base metals such as zinc and aluminium.
