The price of gold remains below $ 1,300 dollars but it is a matter of time
Gold is not yet able to return to the area of $1300 per Troy ounce, but I think it’s just a matter of time. Tuesday, 7 may, gold traded at $1284,70 and slightly growing. However while the dollar is strong, and the overall attitude of investors toward risk is very calm, it is difficult to expect medical dynamics in gold prices. Short-term gold-to-date “outset” borders $1280-1290.
As shown by data from the world gold Council, January-March 2019 world Central Bank increased its purchases of the precious metal to a six-year high. In the first quarter of the world’s gold reserves grew by 68%, or at 145.5 so Russia, by the way, now heads the list of countries most active in acquiring gold. Another energetic buyer of precious metals – China.
On the one hand, the active work of the world’s Central Bank – is actually the replacement of the dynamics in the physical demand for gold, and it’s good for quotations of precious metal. On the other, increased demand for gold could mean the expectation of a negative scenario in the world, from the escalations of the conflicts in the middle East to global trade disputes.
Senior analyst at information-analytical center “Alpari”