News Update
THE Gold price (XAU/USD) extends the rally and reached a record high near $3,275 per troy ounce during the early Asian session on Wednesday.
Safe-haven demand amid US President Donald Trump’s uncertain tariff plans, softer US Dollar (USD) and prospects of further easing by the Federal Reserve (Fed) provide some support to the yellow metal.
Why do people invest in Gold?
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
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