The value of gold in euros is close to its historical record. The new geopolitical tensions between the US and Iran have become a driver of growth in the world price of gold. Investors are in search of defensive assets.
The yellow precious metal showed a noticeable increase at the beginning of the new 2020. Last but not least, seasonal factors influence gold growth. However, a strong driver of current growth was the unexpected aggravation of the conflict between the United States and Iran. Yesterday, the cost of precious metals rose to $ 1,540 per ounce (1,380 euros). It turns out that the European currency did not have enough 2.6% to repeat the record high of September 2019, when gold was worth 1,418 euros per ounce.