Gold price hits 3.5 month high
The price for Gold hit a 3.5 month high on Monday, as concerns over US economic growth increased. Gold is considered a safe haven in times of economic uncertainty. Its price is affected by the strength of the US Dollar (negatively correlated). The main near-term driver for the Gold price is expected to be (weak) U.S. macro data and increasing portfolio allocation to Gold for diversification.
The left dashboard of this Replay shows the monthly development of the Gold price of one ounce, one thousand Euro and one thousand British Pound in terms of the US Dollar over the past four years.
The dashboard on the right compares the Gold price per ounce with the Dollar value of a thousand Euro. A movement of the bubble towards the bottom left corner indicates that an overall increase of the US Dollar’s strength. A movement towards the upper left corner indicates a weaker US Dollar.
The Interesting Moments function of Replay Analytics shows the trend of the Gold price over time.
Below is a link to the live Replay Analytics:
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