Gold has updated its historical high
6 October 10:12
The price of gold on the New York Mercantile Exchange has updated its historical high, exceeding $3949 per troy ounce for the first time. This is evidenced by data from the Comex trading platform, "Komersant Ukrainian" reports.
On Monday morning, the price of December gold futures reached $3950 per ounce, showing an increase of almost 1% compared to the previous trading. Subsequently, the price slightly corrected to $3948.2 per ounce, maintaining a positive trend.
It is noted that gold may rise in price in the event of a trade war between the US and China and an escalation of the conflict in the Middle East. In such a scenario, US inflation will rise, and the Fed will have to pursue a restrictive monetary policy to keep the rate high.
