Gold expands in Kosovo

The pandemic, which has shaken the international gold markets from the beginning of the world, has also provided its effects on the local gold market, causing the price of gold to rise in Kosovo as well.

Some of the architects in the capital have talked about the crisis their businesses have suffered from the virus, which has spread worldwide this year.

They don't remember ever selling so little gold.

They even said that there are days when they simply open their stores and close them at night with no cents of profit.

“Shares have dropped completely, 0-0. It's nothing. It's August. Since we've been opened as shops of pandemic, we're in a state of disaster”, one of the bears here in Pristina said.

The increase in gold prices in international stock exchanges last week has also greatly influenced gold prices in Kosovo, gold athletes say.

According to athletes in the capital, before the pandemic the price of gold was for 5 euros cheaper per gram, while now a gram costs 45 euros to 55 euros.

“currently the gram is 45 to 55 euros per gram. Before the pandemic was about 5 euros cheaper for gram”, one of the architects in the capital said under anonymity.

One of them even said that there is more gold sales from citizens themselves, because of their economic conditions and gold, they view it as an extraction from the crisis.

“They're not buying citizens gold, we're selling”, the architect said in question.

The other architect said, however, that they do not remember such an August, especially now at wedding time and that the diaspora usually come on vacation and buy more gold for themselves or even as gifts. And they said that during this period they have only entered stores, and how they have seen the high price of gold have given up buying.

As a comparison made by one of the gold prices now and before the pandemic, it was the simplest example with a “Line”, which before the pandemic had cost 280 euros, and currently one Free, according to it cost 380-375 euros. This means that the price of a Leer has increased for over 100 euros more than the price before pandemic, due to the pandemic crisis, writes the Economic Bulletin.

Meanwhile, in international stock exchanges last week (in 27,07,200) the price for an ounce (31.1 grams) was up to 1944,71. With this gold value, he had exceeded the record cost of September 2011 when an ounce cost $121.

Finally, the course of gold has fluctuated, but it has always been at a rate of about 1.5 percent to the tune of 1932.

So the value of gold currently marks an increase of over 25 percent in international markets. Especially powerful has been the increase in gold prices since mid-June.

At the beginning of the fluctuations in finance markets because of the gold coral pandemic, there was even a loss of value, although it is the precious metal considered the currency of the crisis. In mid - March, there was a decline when a mold cost up to $1,500 on the stock market.

Alongside concern about the size of the recession as a result of the pandemic, there are other reasons for the rise in the value of gold. Among these reasons, it is said to include debt in states and enterprises as well as lower interest rates.

The price of gold is estimated to have reached record numbers, even because investors are rushing to find “streeha” safe to replace their “roparated “their money, while concerns about a global economic recovery have increased due to the rise in coronary cases in the world.