Gold has been boosted by a number of factors, including China purchases.
; Note: The percentage share of total foreign reserves held in gold, as calculated by the World Gold Council. The value of gold holdings is calculated using the end-of-quarter gold price. Data for the value of other reserves are taken from the IFS table Foreign Exchange and Total Reserves minus Gold. Chart: Deena Zaidi/Axios Visuals
Conflict in the Middle East, as well as speculation that the Federal Reserve may loosen monetary policy later this year, is also helping give bullion a lift. The metal neared $2,400 per ounce before paring gains, but was still up over half a percent on the day, according to Yahoo Finance data.: The metal's rarity and physical properties give it its inherent value besides being a shiny, coveted metal. Bullion is also used by investors a hedge against market and global risk , who are eyeing global economic dominance by 2050.The value of the U.S.
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