By Clement Bigot, legal expert and consultant in international affairs, for Eurasia Business News. September 24, 2021
The Chinese real estate developer Evergrande group is facing serious financial difficulties, global markets fear a default of the company and its consequences for banks and lenders. Evergrande is one of the largest property developer and China and is indebted in an amount of $ 300 billion.
In this climate, gold price is up by 0.46% to reach 1,753.90 USD an ounce, on September 24, 06:25 PM Paris time.
A weaker US dollar and investors avoid risky assets in global markets, as the China’s Evergrande saga continue. This could fuel a further rise of gold in the coming days.
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© Copyright 2021 – Clement Bigot, legal expert and consultant in international relations.