- Gold prices have been steadily rising and have recently crossed the US$2,000 per ounce mark for the first since August 2020.
- Currently, the gold price is around US$2,010 per ounce, which is close to the record-high level of around US$2,070 per ounce in 2020.
Gold is a safe haven asset that is in the spotlight due to the ongoing Russia-Ukraine war, which has shaken the world. Even during the pandemic phase, gold prices had hit record high levels, which shows that the precious metal can become more valuable even when the market sentiment is sour and unpredictable. Gold prices have been steadily rising and have recently crossed the US$2,000 per ounce mark for the first since August 2020.
Currently, the gold price is around US$2,010 per ounce, which is close to the record-high level of around US$2,070 per ounce in 2020. If the Russia-Ukraine war situation keeps escalating, the gold prices may even cross the US$3,000 per ounce mark, experts said.
However, if the value of the precious metal is increasing, it doesn’t necessarily mean that all the gold stocks will gain. Thus, investors should properly research about the companies before investing in gold stocks.
Let’s look at the share price performance of 5 UK gold stocks.