3 Reasons Gold Prices Are Exploding - And Why the Party Isn't Over Yet

Gold last traded at $1,698 an ounce. Silver at $15.68 an ounce.

NEWS SUMMARY: Precious metal prices held steady Monday despite a firmer dollar. U.S. stocks fell amid investor jitters about reopening the economy too soon.

CNN---"Since careening below $1,500 an ounce on March 19, the price of gold has been rising steadily. It's already surged past $1,700, and some analysts believe it could set a new record above $2,000 within the imminent future. Here are three reasons why the yellow metal is soaring in 2020 - and why the party isn't over yet. 1. Gold Is (Still) a Safe-Haven Asset Against Global Uncertainty - Many investors view gold as a safe haven during crises like the coronavirus. Fear of a global economic downturn is driving investors towards the safety of the yellow metal....2. Fed's Stimulus Measures Fuel the Yellow Metal - The U.S. Federal Reserve's massive stimulus to support the economy is another factor that promises to drive gold prices higher. When central banks print more money in an attempt to stimulate the economy, it can increase inflation....3. Fears of a U.S.-China Trade War Make Gold a Solid Long-Term Hedge - Global political tensions should provide long-term support for gold prices even after the coronavirus crisis is over...As Trump and Beijing play the COVID-19 blame game, a trade war is becoming a growing possibility."