Investor interest in the assets of “safe haven”, including the precious metals, remains at a high level.
The world price of gold set a new record high amid U.S. dollar weakness and doubts of investors in the prospects of global economic recovery after the crisis caused by the pandemic coronavirus. On it informs Interfax on Tuesday, July 28.
So, gold futures with delivery in August has risen in price at the end of trading Monday, July 27, at 1.8% – up to $1931 per ounce, finishing at a record level for the second consecutive session.
During the auction the price of the precious metal rose to $1940,1 per ounce, breaking the intraday record, recorded in September 2011. Friday, 24 July, gold has closed at a record high for the first time in nearly nine years.
Gloomy forecast for the world economy, lower interest rates, rising tensions in relations between the US and China, as well as the weakening of the U.S. currency support interest of investors to the assets of “safe haven”, including precious metals, says Dow Jones.
“There are still many what to worry about and this is why gold attracts all the attention and all the money – said the analyst Marex Spectron David Govett. – We see how the money goes with the stock and other markets and are forwarded to the gold.”
Last month the price of gold rose nearly 9% since the beginning of 2020, or 27%. On Tuesday, the August gold futures traded at $1929,3 per ounce.
The price of silver for delivery in September on Monday soared by 7.2%, to $24 501 per ounce, the high from August 2013. On Tuesday, the futures are trading at $24 495 per ounce.
Earlier, the Ukrainian national Bank worsened the forecast about the fall of the economy to 6%. At the same time, it is expected that in 2021 the recovery growth will be 4%.