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Gold price rally helped by ‘fundamental’ shift in asset allocation

While gold has been on a generally positive trend for the past few years, the onset of the global pandemic has made bullion’s relevance as a hedge even more apparent – and accelerated its price performance.

During the first half of 2020, the price of gold increased by 17%, followed by an additional 10% gain for the month of July, outpacing all major assets.

Spot gold set a new all-time high on July 28, reaching $1,940.9 an ounce on the LBMA Gold Price PM (PM Price) and topping $1,981.3 intraday.

Capital Limited (LON:CAPD) provide complete exploration and production drilling solutions to customers within the global minerals industry, with a focus on the African markets.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.