Global gold prices have skyrocketed
Since the opening of trading, gold has risen by 0.23 percent. At the maximum, the value of the precious metal soared to 2,152 thousand dollars (plus three percent by the close of the last session), but by the time the material was written, it had adjusted to 2,09 thousand dollars.
Analysts interviewed by CNBC attributed the sharp rise in prices to geopolitical tensions due to the conflict between Israel and Hamas. Prices were also affected by the weak dollar and expectations of lower interest rates.
According to experts, the value of the precious metal may set new records in 2024. By the end of the year, gold prices may reach 2.2 thousand dollars per ounce, suggested Heng Kun Hau, head of the Department of Market Strategy, Global Economics and Markets Research at UOB. The quotes will be affected by active purchases by central banks, and the cost of gold will average 2.1 thousand dollars per ounce, added Bart Melek, head of commodity strategies at TD Securities,
Earlier it became known that Switzerland imported more than 14 tons of gold of Russian origin from the UK and Moldova in the amount of $ 874 million, despite the sanctions. At the same time, the country's leadership notes that the embargo, which the state joined on August 4, 2022, did not violate these purchases.