Gold at Years High

Gold continued its rise for the third consecutive session on Tuesday and rose to new highs for several years around $ 1823-24 area during the last hour. Additional stimulus plans from the US and the Eurozone were one of the main factors that lifted demand for the precious metal as a safe haven.

Gold is now trading at 1823, up by about 0.4%, the highest level since 2011, as the contracts for August delivery at 1823.4, or 0.33%.

It is worth mentioning that the European Union finally reached a highly-anticipated deal on the € 750 billion coronavirus recovery fund – aimed at aiding the region’s worst-hit economies. Moreover, the debate over a further round of economic stimulus measures is currently underway in the US Congress.