The gold price has risen to the highest level in more than five years, after the US Federal Reserve has indicated its willingness to lower interest rates. For a troy ounce of gold (31.1 grams), more than 1394 dollars had to be paid on the futures market in Singapore, the highest point since September 2013.
The gold price has been on the rise for some time because investors are more often looking for safe destinations such as gold during troubled times on the financial markets, due to the political unrest around Iran and trade tensions. The Fed has said that economic uncertainties have increased and that appropriate action will be taken to support growth. The dollar weakened after the interest rate decision. This makes it cheaper for investors with other currencies to buy gold, which boosts the price.
Market experts agree that the gold price can rise even further due to looser monetary policy from central banks. In September 2011, the gold price reached the highest level ever with more than $ 1,900. At that time there was also great uncertainty on the financial markets.