The gold price is trending upward again in the wake of a weakening US dollar and worldwide quantitative easing (QE) practices, with central banks moving assets away from the dollar to other currencies and gold.
YLG Bullion International’s chief executive Pawan Nawawattanasub said the rise of gold prices is a result of surging infections around the world that will continue to hamper the global economic recovery and drive the Fed’s continuation of QE.
“With a continued loose monetary policy in the US, the dollar will depreciate compared with the pound, especially as the UK recently agreed to trade measures after Brexit,” said Mrs Pawan.
US President Donald Trump recently signed a new round of fiscal stimulus worth US$900 billion, while the next administration under President-elect Joe Biden is expected to continue with a third economic stimulus package.
The…
