“The price of gold reached a record level, exceeding $ 4,000 for an ounce that emphasizes the growing economic and political tensions in the world”, – WRITE: www.radiosvoboda.org
On Wednesday, the price of ingots increased by 1.3% to a new peak by $ 4037.10 per ounce.
Gold, which is considered a means of maintaining value during periods of instability, has increased by more than 50% since the beginning of the year.
The increase in metal prices was due to a set of factors, including expectations for reducing interest rates, political and economic uncertainty, and active purchases of central banks.
Gold jumping usually reflects wider economic and political tensions. According to Bloomberg, the price of gold exceeded $ 1,000 for an ounce after the global financial crisis, $ 2,000 during the Covid Pandemia and $ 3,000, when Trump’s tariff plans spread to the world markets in March.