In Japan, the price of gold again updated the record

In Japan, the price of gold on August 5 again updated the previous historical record set the day before, the price of a gram of gold in retail sales reached $72. This was reported by the Kyodo news agency. According to the agency, Tanaka Kikindzoku, which determines gold quotes in the country, sells precious metal for 7,608 yen ($72) per gram, which is 152 yen more expensive than it cost on August 4, when the previous record for the value of the precious metal was set. Kyodo notes that the demand for gold, as historically one of the most reliable assets in the market, traditionally grows in an environment of instability and uncertainty in financial markets and the economy. Also, excitement to buyers is added by the expectation of a second wave of infections with a new coronavirus infection. According to the news agency, on July 31, the value of gold for the first time in history exceeded $2000 and amounted to $2005.4 per ounce. The sharp increase in the price of gold occurred against the background of the publication of negative statistics on the US economy. Due to the coronavirus pandemic, US GDP decreased by record 2020 in the second quarter of 32.9%.