Gold price soars past $1900 mark
GOLD has reached an all-time Australian dollar high, after soaring past $1900poz to reach a peak of $1906 on June 4. It marks an increase of more than $50 within a seven-day period in reaction to China-US tension and a weak Australian dollar. Since 2015, industry has been coming to terms with the global depletion of gold deposits. This has seen a steady rise in international gold prices, with the increased scarcity of the resource driving demand and creating new giants in the industry, like the Newmont Gold Corp merger at the beginning of the year. This scarcity has been coupled with fears that the China-US trade war will spill over into the wider investment market. Historically, gold has rallied…