Unprecedented stimulus measures and low interest rates last year have benefited gold as investors chased the yellow metal as a safe-haven and a hedge against inflation. In 2020, the gloomy global economic outlook and the weak USD helped gold seal its role as a store of value. Bullion prices denominated in USD rose 35% last year, breaking through historical highs of US$1,900 before giving up some of its hefty gains. Bullion set a new record price of US$2,070 ($2,780) in 2020.

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