Gold Gains 16% with an 8-Year High: Why It Will Continue to Rise

Gold last traded at $1,783 an ounce. Silver at $18.26 an ounce.

NEWS SUMMARY:Precious metal prices rose Monday on safe-haven buying and a weaker dollar. U.S. stocks rose, led by strong gains in the tech sector, as Wall Street tried to shake off a continued rise in coronavirus cases.

-Yahoo Finance--"Gold is a highly valuable commodity. It tends to perform opposite stocks and bonds. Because the value of gold holds well, investors consider it a safe-haven, especially during turbulent economies. In the coronavirus crises, gold is a shiny asset that will likely soar in price in the coming weeks. Here are the reasons why. The global markets experienced severe declines early this year due to the COVID-19 outbreak. As fear creeps out on the second wave of coronavirus infections in different countries, risk-averse assets like gold are attracting more investors. South Korea is now experiencing what seems to be a second wave of coronavirus....Economists worry that there will be more debt and more money circulating. Interest rates and gold correlates negatively. To date, countries with rising infection cases are Iran, Algeria, Israel, and the USA. Confirmed coronavirus cases are now around 10 million, with nearly 500,000 deaths. The US is likely to force tariffs on $3.1 billion worth of UK and EU imports with duties of up to 100%....The heating US-China trade war contributed to the rising interest in gold, pushing its price further up."