Among other things, the increase is expected to be affected by the recent turmoil surrounding the US central bank, the Fed, where President Donald Trump, among other things, has tried to get a board member fired on controversial grounds. Also, increased expectations of interest rate cuts from the Fed are reported to play in.
The latest peak for the gold price occurred in April. So far this year, the metal has risen by more than 30 percent, making it one of the best performing commodities.
Gold is usually considered a safe haven in political and economic turmoil and is typically favored by a lower interest rate environment.
