GOLD PRICE RISES ABOVE FJD$4000

Fiji Sun - - BIG STORY - Feed­back: maraia.vula@fi­jisun.com.fj

Gold has topped US$2000 (FJ$4,278.31 ) an ounce for the first time as traders look for havens amid the pan­demic.

In­vestors have moved cash into the pre­cious metal as COVID-19 cases rise in the US and more money is pumped into the global econ­omy.

The record high gold price has also been­driven­by­con­cernsovert­en­sions be­tween Wash­ing­ton and Bei­jing.

Prices of other pre­cious met­als, in­clud­ing sil­ver, have also risen sharply since the start of this year.

The price of gold has in­creased by more than 30 per cent this year as coro­n­avirus cases con­tinue to rise in Amer­ica, caus­ing dozens of states to halt or re­verse their plans to re­open.

The rapid rise in cases, which has dented hopes of a swift US eco­nomic re­cov­ery, has also helped to drive up the price of sil­ver by around a third this year.

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