The coronavirus (or COVID-19) has caused a massive commotion for many countries around the world. It serves as a big threat, as this disease can be passed among animals and humans. Any contact with the respiratory droplets from sneezes and coughs from an infected individual could leave you susceptible to the disease.

We are all familiar with the nature of investments. The value of investments inevitably fluctuates at one point or another. This is the scenario that we are all familiar with– the up and down nature of investments.

The Australian psyche holds a special place for gold. During the early 1850s, the gold rush helped in propelling the country’s economy, grow its population, and stimulate the industries. As the second biggest producer of gold in the world, the country’s gold sector flourished. Its record gold prices and mine production speak for themselves. After all, gold remains the country’s third major commodity export.

The last few months have seen the price of gold rally to $1,600 — a height it has not reached since March 2013. However, the last few weeks have seen the price start to stagnate. Between January 20 and February 4, the price did not manage to cross the $1,600 barrier, bouncing off at around $1,590. As of February 5, it had hit a two-week low of $1,547.

st paul gold buyers

Following the killing of Iranian General Quasem Soleimani by a targeted US airstrike on 3 January, gold prices reached a seven-year high of close to $1,600 per troy oz. or $50,798 per kg. The shock of this event drove investors to buy gold, a so-called safe haven asset, allowing them to safeguard their wealth amidst geopolitical uncertainty.