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Gold price exceeded 1.5 thousand US dollars

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Gold price exceeded 1.5 thousand US dollars
August 07
13:00 2019

Gold again pleases its holders. The price of an ounce has risen to $ 1.5 thousand. It was 2013 when we could last observe such a price. The increased demand for reliable assets caused by concerns about the developing trade conflict between the States and China became the reason for the price growth. Another factor, which positively affects the  gold price, is the easing of monetary policy by the world Central Bank.

During the session, the cost of precious metal on the New York COMEX grew to $ 1,503. In the current year, gold has increased 17%.

The fall of world markets, the mutual threats of the United States and China to impose sanctions on export goods make the gold price to grow.

The decrease in the interest rate by the Federal Reserve is one more reason why the price of the precious metal grows. The Central Banks of Europe and Japan have also announced about their intension to take similar actions. Banks of India and New Zealand have cut the rates, which turned out to be even more than market expectations.

World experts note that gold again becomes a protective asset. They believe that in case of further development of the trade conflict, the price is likely to grow up to 1.6 thousand US dollars.

The spot price of silver has risen to its highest levels for the year – up to $ 16.8.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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