Published 28 March 2024 at 18.00
Economics. Gold rose as expected to new record levels on Thursday and in the evening Swedish time reached a world market price (spot) of 2225.50 dollars per troy ounce – the highest ever.
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Even in Swedish kronor, the price of gold hit a major record when the yellow metal's price rally coincided with a bottom for the Swedish krone.
The struggling currency fell against both the dollar and the euro on Thursday as the world reacted to the Riksbank's statements about a lower interest rate already this year, despite persistent Swedish inflation and the mortgaged Swedish public, who are considered to have exposed themselves to great risks in their national housing market.
At most, one troy ounce of gold cost 23,764 kroner on Thursday, which was well above the previous price record of 23,000 kroner from March 21 this year.
Behind gold's rise is increased demand from central banks in the non-US-controlled part of the world, which sell dollar and buy gold in search of assets not controlled by the US government.
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