• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Commodities

Gold surges past record high as U.S dollar hits record low

Olumide Adesina by Olumide Adesina
July 27, 2020
in Commodities
Gold surges, Joe biden
Share on FacebookShare on TwitterShare on Linkedin

Gold continued its surge early Monday morning at London’s trading session. The yellow metal passed its highest price record amid growing concerns over USD dollar’s plunge. The dollar has fallen to its lowest point in over a year, as geopolitical tensions between the US and China intensifies.

For specifics, gold futures gained 1.57% to $1,928.55 as of 6.00 am GMT, smashing the record of $1,923.70 which was recorded in 2011.

Some insights: Stephen Innes, Chief Global Market Strategist at AxiCorp, in a note to Nairametrics, explained the macros that are making gold hit record highs. He said:

RelatedStories

Why Gold's demand is so high right now, within the range of $2,000 an ounce

Gold falls from $2,000 trading zone as dollar trades at multi-year highs

April 19, 2022
Gold

Gold hits $2,000 as Russia–Ukraine war drives demand

March 7, 2022

“Gold cleared USD1,900/oz on geopolitical risks, weak USD without raising any eyebrows, suggesting the yellow metal has amplitude to hit an all-time high of USD1,920/oz on risk-off demand bolstered by recent communications from the US Fed.

READ MORE: Treasury Market Opens Bearish as Market Players React to Higher CBN OMO Rate

“They have made it abundantly clear that the FOMC will soon pivot away from stabilization towards accommodation.”

Innes also explained why the plunge of the American dollar is a major contributing factor to gold’s surge in prices.

“Gold is the clear beneficiary of safe-haven demand and beating the dollar to the punch and partying like it’s 2011 as real yields are nose-diving, the dollar is tanking against G-10 majors, and money supply is rocketing higher. With no competition from bond yields, Gold’s glittering appeal stands above all.

“It is striking to see the extent to which Gold has tracked real yields in the last 18 months. Gold has virtually been tethered to the hip. The question of whether it can keep rallying is one of whether real yields can keep falling.”

READ MORE: 83% of BTCs addresses are smiling to the Bank 

The rush for gold by global investors has been boosted by a weakened greenback, which fell to the lowest point in over a year, on hopes that the Federal Reserve will continue to stimulate the world’s largest economy when it convenes this week.

What this means: The implication of this trend is that many global investors are abandoning fiat currencies and moving in large numbers to precious metals, primarily for the purpose of hedging against inflation and preserving wealth.


Follow us for Breaking News and Market Intelligence.
Tags: Business NewsGold futuresgold priceUSD dollars
Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market writer, analyst and investment trader. Message Olumide on Twitter @Olumidecapital

Related Posts

Why Gold's demand is so high right now, within the range of $2,000 an ounce
Commodities

Gold falls from $2,000 trading zone as dollar trades at multi-year highs

April 19, 2022
Gold
Commodities

Gold hits $2,000 as Russia–Ukraine war drives demand

March 7, 2022
Gold
Commodities

Gold records high sell-offs, loses $50 an ounce

November 23, 2021
Gold on a grand slam win, gains $40 per ounce
Commodities

Gold’s appeal surge on boiling U.S inflation

November 12, 2021
Gold prices tumble, U.S dollar up
Commodities

Gold starts the week bullish as dollar index weakens

November 8, 2021
Gold prices tumble, U.S dollar up
Commodities

Gold prices drift lower amid rising dollar

September 6, 2021
Next Post
Ajaokuta Steel Company

Resuscitation of Ajaokuta Steel Company - an end in sight?

Comments 1

  1. Toyin Aderemi says:
    July 27, 2020 at 11:23 am

    How advisable is not to invest in gold now that the price is soaring? If it’s, indeed a good investment now, at what point could one sell such investment for profit?
    Thanks.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Abia Govt secures $263.8 million from AfDB, IsDB for road, erosion, and waste management projects 
  • EFCC secures jail term, forfeiture of N653 million from traveller who concealed cash at Kano Airport 
  • FG adopts front-of-pack labelling to tackle diet-related diseases and cut NCD deaths

Follow us on social media:

Recent News

AfDB, AI

Abia Govt secures $263.8 million from AfDB, IsDB for road, erosion, and waste management projects 

July 16, 2025
EFCC secures jail term, forfeiture of N653 million from traveller who concealed cash at Kano Airport 

EFCC secures jail term, forfeiture of N653 million from traveller who concealed cash at Kano Airport 

July 16, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics