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Gold soars to record high; some see correction soon

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Uma Devi

Uma Devi

Published Wed, Aug 5, 2020 · 09:50 PM

    Singapore

    GOLD prices passed the US$2,000 per ounce threshold on Wednesday - a new record for the precious metal. With this, gold has now rallied over 30 per cent this year as the economic stress of Covid-19 continues to weigh on investor sentiment. But some market watchers are warning that a price correction is due.

    "The angst of what lies ahead is driving the US yields lower and propelling gold higher," said Stephen Innes, AxiCorp's chief global market strategist.

    Gold

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