Predicted lower interest rates, weaker dollar and continued tension between the US and other countries including Iran and China has helped to push the price of gold to a six year high.
The price of gold has increased by 10% in the last four weeks to just of $1,400 per ounce which is the highest since May 2013.
Investors are also looking to the G-20 summit this weekend where Presidents Donald Trump and Xi Jinping are scheduled to meet to discuss trade, although US officials are downplaying expectations, insisting America wasn’t prepared to compromise on demands for meaningful Chinese economic reforms.
Analysts at Morgan Stanley have raised their gold price forecast for the second half of this year and the year after as a result.
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