Trading was turbulent last year, the price of gold rose

Trading was turbulent last year, the price of gold rose

Trading on the financial markets was turbulent in 2020. And while stocks fell, gold kept its price and even rose. At the end of 2020, the price of gold was above $ 1,850 per ounce. According to František Burda from the Golden Oak Trust, the main driver of the rise in the price of gold will be the pushing of money by national banks around the world. While in 2019 stock markets were tense mainly due to the trade war between the USA and China, the year 2020 brought a pandemic. The pandemic caused the February slump in stock markets and oil contracts. Gold, which began to rise in February, also reacted to global nervousness. It broke the $ 1,600 per ounce mark and continued to grow until it reached a record high of $ 2,067.15 on August 6, 2020. In the summer with the pandemic, the price of gold was driven up by the pushing of money. America has squeezed out more than three trillion dollars, Europe has created a rescue fund worth 2.36 trillion euros. Subsequently, the situation in the world calmed down for a while and gold slowly receded from its maximum. It closed at $ 1,762.55 on November 30 at an afternoon auction in London. "This price has been reflected and now gold is on the rise again," Burda comments. At the same time, he adds that it pays to invest in gold even if its price rises, regularly and in smaller amounts. "At present, small investors or ordinary clients and people who want to protect their money against inflation and another financial crisis are also saving for gold. It is not the right timing that matters to them, but the ongoing purchase of investment gold, in which they use price averaging. , "says Burda. The transparent company has at its disposal a model contract, published general terms and conditions and the pricing of the conversion of money into grams of gold. "In addition, you need to ask about the purchase price of gold that the company will supply you with. In life, there may be a situation in which you will have to sell part of the gold in order to get money. It is also important that the company has in general business the conditions stated until the money from the redemption will be paid to you, "adds Burda.