Direct Translation via Google Translate. Edited.
[Regnum] The price of gold on the New York Comex exchange on March 21 was $2,222.85 per troy ounce. It grew by more than 2% and updated the historical record. This was reported by Economies.com.
Today's trading began with a sharp increase - the price of the precious metal exceeded the target of $2,200. As of 8:54 Moscow time, the price of April gold futures on the exchange was $2206.7 per troy ounce.
According to analysts, the next record will be $2,235.
Bloomberg noted that traders' interest in gold arose due to speculation that the US Federal Reserve could move to lower the base rate by 75 basis points before the end of this year. This caused the US dollar and Treasury yields to fall.
The Fed published the results of the meeting on the base rate on March 20. The regulator decided to keep it in the range of 5.25–5.5% for the fifth time in a row. About half of the members of the Federal Open Market Committee noted that they expect a discount rate of 4.5-4.75% by the end of the year.
As Regnum reported, the price of gold on December 4 last year increased by almost 1%, reaching a record high of more than $2,100 per troy ounce. As of 08:34 Moscow time, the price of December futures on the New York Comex exchange increased by $17.7, or 0.85%, to $2,107.15 per troy ounce.
Senator Alexei Pushkov noted that the price of gold has reached its highest level in history, which is bad primarily for the dollar. According to him, the United States of America will inevitably lose its former hegemony due to serious economic factors.
Russia's gold reserves at the end of 2023 reached a new high of $155.9 billion; in physical terms, the reserves increased by almost 35 tons. According to the Central Bank, investments in gold increased by 2.6% in December last year. In physical terms, gold reserves increased by 34.6 tons, to 2,350 tons. The share of gold in Russia's reserves increased to 26% in December compared to 25.6% in November 2023.
|
