The price of gold: While the markets are reeling Troy ounce exceeded $1550.9
The gold market comes to life again after a brief pause. Gold rate Wednesday, August 28, amounted to $1550,90 per Troy ounce and could rise to $1555-1560, while the world is wondering whether to negotiate the US and China.
Gold traditionally acts as a protective asset and works here perfectly. The mutual raising of import duties by Washington and Beijing clearly played in favor of the precious metal. After the market there was talk of a possible imminent return of the United States and China to the negotiating table regarding trade agreements, the global capital market calmed down, and the price of gold got a reason for the technical correction, but the pullback was not deep, just the opposite.
Factor trade wars to support gold prices in the medium term, it will be updated, it to lose sharpness. Long-term support factor for buyers of precious metals, the sustained interest in gold by the world’s Central banks, who are likely in the coming years will continue to accumulate gold reserves in the framework of the diversification of its assets.
In the long term, the price of gold may rise in the $1600-1650 per Troy ounce.
“Information-analytical center “Alpari”