@VasilyPonomarev, Gold is a finite resource which has long been prized. It's supply is relatively constant while the demand from an increasingly wealthy population globally keeps rising. Additionally, there is rising demand for electronics, where it's used as a connector between components. Kingdoms, governments, nations & currencies rise & fall, but gold has always maintained significant value. The threat to the global economy from the pandemic drove increased demand as precious metals are safer than any stock, bond or currency, especially with negative interest rates. The pullback from a record high is an opportunity to acquire gold at a lower price by people who had little interest in its value before. Any development which is bad for global economies, such as a new strain of Covid-19, can push it higher.
Thanks for your insight during the year & your words of warning about trading in low volume into the new year. I hope you enjoy your break Vasily. :)
do you have any fundamental explanation?