Gold will always shine. Sure enough, with the global COVID-19 epidemic raging, gold has ushered in its own "golden period". In recent days, gold prices have continued to soar, getting closer and closer to historical highs. One day later, spot gold rose sharply again, once breaking through $1,898 and continuing to set a new high since September 2011. You must know that spot gold has risen by nearly 30 US dollars the day before, which also means that the price of gold has risen by about 60 US dollars in the past two days, getting closer and closer to the historical high. The highest price point in the history of gold was that in September 2011, the spot gold price rose to US$1,920.8 per ounce, the highest level in history.

Many people are currently desperately buying gold, and there are many industry sources saying that gold will continue to increase in the next three to five years. So what exactly is causing gold to rise desperately? First of all, due to factors such as the epidemic and loose monetary policy, the market's expectations for inflation have increased. In this case, the price of gold may hit a record high in the next 6 to 9 months, and there is a 30% possibility that it will rise in the next three to nine months. Hitting the $2,000/ounce mark in five years. ?

We learned from the Internet some industry insiders’ analysis of the reasons for gold’s rise. Xu Ying, a senior analyst at Orient Securities Futures, once analyzed the reasons for the rise in gold as follows: First, on July 21, the EU reached an agreement on a 750 billion euro recovery fund, and the bailout threshold was lower than that during the European debt crisis. Factors such as the imminent launch of the second round of fiscal stimulus in the United States have led to higher market expectations for inflation. Second, recent tensions in international relations have triggered risk aversion in the market, with risk assets falling and funds flowing into safe-haven assets such as bonds and gold. Third, economic data such as the number of initial jobless claims in the United States and the manufacturing PMI index have weakened, indicating that the deterioration of the epidemic in the United States has once again significantly suppressed the economy. In sharp contrast, the Eurozone manufacturing and service industry PMI data exceeded expectations across the board. , showing that Europe's epidemic control is relatively better, the euro has risen significantly and the dollar has weakened, which is bullish for gold.

However, some people in the industry say that gold has reached its local highest point, and whether we should continue to buy gold depends on the situation.