The price of gold per ounce reached 2,640 dollars and 85 cents today
reported by %20%0A
The price of gold per ounce increased by 0.33% to $2,640 and 85 cents today. The price of gold futures on the Comex market of New York has reached $2,644 and 20 cents with an increase of 0.50%.
Gold rose 2 percent on Monday, posting its biggest one-day price increase since mid-August. Last week, gold had reached the lowest value in the last two months.
Analysts believe that the change in Russia’s nuclear policy following Ukraine’s first attack on its territory by American long-range missiles has increased the desire to buy gold as a safe haven.
Geopolitical tensions, economic risks and the environment of low interest rates have increased the desire for gold.
Several Federal Reserve officials are scheduled to give speeches this week, which could provide more insight on the path of monetary policy this week. The bank will provide.
Traders Currently 63 percent expect the interest rate to be reduced by 25 points at the December meeting.
Analysts of Commercial Bank say that geopolitical instabilities, Buying gold by central banks and increasing the deficit in America and other western countries will support gold more than ever.
Furthermore, the devaluation of the dollar has made buying gold cheaper for holders of other world currencies. The value of the dollar had reached the highest level in the past year following Trump’s victory in the elections.
Among other precious metals, silver rose 0.25 percent to $31.34, and platinum traded up 0.8 percent to $975.62.
