Price of gold rose to the level of 2012.
The spot price of gold rose to US$1765.43 on Monday; the troy ounce of metal has not been worth that much since October 2012. The price overcame US$1750 and set a new high after the collapse in March.
When the world markets were hit by the crisis in March due to the massive introduction of quarantine measures in many countries, the gold market also failed to avoid fall. Although the metal is considered to be a protective asset, it was sold to attract money and close the holes in investment portfolios created by the collapse of stock, bond and commodity markets, especially oil. The spot price of an ounce of gold in the first half of March fell over the week from US$1700 to US$1450, but then began to recover quickly. Trillions of dollars contributed to this, which central banks began to throw in the markets to support them. In addition, governments of different countries announced fiscal support measures of US$8.7 trillion, according to the IMF.