OREANDA-NEWS. The gold price in the context of the COVID-19 pandemic reached the highest level in Japan over the past 40 years. Tanaka Kikinzoku, the country's leading precious metal quote, is selling a gram of gold on Monday for 6,513 yen (more than $ 60), Kyodo news agency reported.

This is 32 yen more than it was at auction on Friday. The price of gold rose to its highest level since January 1980, when it jumped sharply due to expectations of a global crisis amid the Islamic revolution in Iran and the entry of Soviet troops into Afghanistan.

Demand for gold, the agency notes, usually grows in an environment of concern in financial markets, when unexpected acute problems can cause a chaotic fall in stock prices and government bonds.