Upside Momentum Continues To Grow For Gold

While gold has been on a generally positive trend for the past few years, the onset of the global pandemic has made bullion’s relevance as a hedge even more apparent and accelerated its price performance. During the first half of 2020, the price of gold increased by 17%, followed up by an additional 10% gain for the month of July, outpacing all major assets by a significant amount. Spot gold set a new all-time high on July 28, reaching $1,940.9/oz on the LBMA Gold Price PM (PM Price) and topping $1,981.3/oz intraday. This exceeded the…