The price of gold closed at US$1,931 per ounce, for contracts for delivery in August. The previous record is RD$1,920. The price of gold is expected to climb over US$2,000 per ounce in the coming weeks. Analysts say investors are flocking to ‘safer’ assets amid the coronavirus pandemic. The price of gold has hit its highest level for two consecutive days amid US-China tensions and the sliding dollar.
The Dominican Republic is a major gold producer and exporter. The increase in the price of gold is a windfall of unexpected resources for the Dominican government.