The cost of metal is increasing because of the crisis in relations between China and the United States
The price of gold amid growing tensions between the US and China on the morning of 27 July was 1931 dollars per ounce at the close of the previous trading – 1943 dollars per ounce. This is the maximum value for all history, notes CNBC.
The last historical record of gold price was recorded on 22 August 2011 – 1891,9 dollars per ounce.
As you know, gold is considered the most reliable asset, the demand for which increases during crises and geopolitical instability.
Recall, the US authorities ordered to close the Consulate of China in Houston (Texas). Such steps followed after that, as the US has accused China of trying to kidnapping an American development of a vaccine against coronavirus.
Later, the government of China stopped the US Consulate General in the administrative center in China’s Sichuan province city of Chengdu.