OREANDA-NEWS  During trading, the exchange value of gold dropped below 4.2 thousand dollars for the first time since March 23. This is evidenced by Investing data.

At the low, the quotes of the key precious metal fell to $ 4,184. By 12:35 Moscow time, the price of gold had risen to $4,196. Despite this, the decrease to the closing level of the previous session by that time was 2.1 percent.

The rapid depreciation of gold is fixed against the background of the gradual strengthening of the dollar. Experts include general economic uncertainty among other reasons for the decline in precious metal quotations.

Against the background of rising energy prices due to the crisis in the Middle East, the world's central banks are maintaining tight monetary policy in order to prevent an acceleration of inflation. This eventually leads to an increase in market interest rates. Under these conditions, gold loses its attractiveness, as it does not bring interest income, analysts explain. On the contrary, the dollar is strengthening its position in such realities.

Gold has been noticeably cheaper since the beginning of June. During trading on June 8, precious metal quotes fell below 4.3 thousand dollars, and now it has broken through another psychological mark. Due to high interest rates, the dollar is becoming a reliable "safe haven", which puts strong pressure on gold positions.