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Gold price breaks past US$2,000 for first time on COVID-19 fears Updated: 2020-08-05 10:01:40 KST

Gold prices hit two-thousand U.S. dollars an ounce for the first time ever on Tuesday, over fear and uncertainty caused by the COVID-19 outbreak.
The precious metal hit a record of 20-hundred-23 dollars an ounce and settled one.seven percent up at 20-hundred-21 dollars.
Gold prices have risen more than 30 percent this year as the precious metal became a refuge during economic uncertainty brought by the outbreak.
According to Bank of America, trillions of dollars of stimulus released by governments worldwide to combat the virus as well as U.S.-China tensions could push gold prices towards three-thousand dollars an ounce in the next 18 months.
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