The economic carnage triggered by the pandemic of Covid-19 has led investors to hedge against the continuing uncertainty and has propelled the price of gold to record levels. For the first time ever, the price per ounce in August reached $2,000. In the United States, political instability also contributes to increasing demand, with UBS recently advising its customers to purchase safe-haven assets such as gold in the event that a disputed presidential election contributes to even greater volatility in the stock market.
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