Gold Soars

The global economic shutdown as a result of the Coronavirus has lead to very strong gold demand as a safe haven depository and a subsequent steep rise in the price.

Gold is now at record GBP prices – although this is in part as a result of the weakened state of the pound against the dollar - and is trading at £43.30/gram, up 3.6% on start of day trading.

Gold is pulling other precious metals along with it, but they remain significantly down in price compared to where they were earlier this month, highlighting the importance of gold in times of economic uncertainty.