Gold is Experiencing the Most Profitable Period of the Last Decade

Gold is Experiencing the Most Profitable Period of the Last Decade Gold is experiencing the most profitable period of the last decade. Gold continues to gain the trust of investors during the epidemic period. As we move towards the end of 2020, gold is experiencing one of its best periods in the past 10 years. In particular, the new type of coronavirus (Covid-19) epidemic has greatly reduced the global risk appetite and investors' desire to flee to safe harbors add value to gold. In the uncertainty environment that is the result of the coronavirus epidemic from the beginning of 2020 until August, gold gained value by 36 percent; After this date, it started to move downwards. Developments in the coronavirus vaccine and the increase in global risk appetite had a major impact on the decline of gold, which had decreased by 14 percent from August to the beginning of December. Despite all these declining indicators, gold is preparing to close the year with the best gain of the last 10 years, rising by 24 percent since the beginning of the year. Gold, which rose on Thursday after the deal in Brexit talks ahead of the Christmas break and developments regarding the US fiscal stimulus package, was most recently traded at $ 1883.46 per ounce. Gold prices blocked their decline, finding support from the post-Brexit trade agreement signed between the European Union and the UK. Oanda Senior Market Analyst Edward Moya said: “Gold prices benefit from the Brexit deal, that sets the stage for a weaker dollar.” Due to the Christmas holiday, exchanges will be closed in many countries such as the USA, Germany, France, Italy, England and South Korea today.