- Gold's price hit its highest level ever on Monday as US-China tensions continue to ratchet up and the dollar slides.
- The precious metal was up 2% just shy of $1940 per ounce as of 5.50 am. ET.
- Some analysts now see gold hitting $2,000 per ounce in the coming weeks.
- Naeem Aslam of Avatrade, said: "The next big target is the 2,000 level and this can happen this week as we have the Federal Reserve's meeting.
- US-China tensions rose last week, after both countries ordered the tit-for-tat closures of consulates in major cities in both nations.
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The price of gold rocketed to its highest level ever on Monday as the dollar continues to weaken and tensions between US and China showed no signs of abating, pushing investors towards safe haven assets.
The precious metal was up 2% just shy of $1940 per ounce as of 5.50 am. ET. Last, week gold breached the $1900 mark and ended Friday at its highest level since 2011, when the previous all-time high was reached.
See the rest of the story at Business Insider
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