The price of gold on Monday rose by more than 1%, rising above $ 2,000 per troy ounce, due to continued demand for “safe” assets, according to trading data and comments from analysts.
The price of gold futures on the New York Comex exchange soared by $22.2, or 1.11%, to $1996.9 a troy ounce. Within minutes, it had climbed to a high of $2,000.55 since March 11.
Despite growth in the US dollar exchange rate and increase in yield of the US government bonds, gold goes on rising in price, as the demand for reliable assets is high enough.
This confirms the trend of risk aversion in financial markets at the beginning of the week – U.S. index futures are declining and Asian stock markets showed no definite dynamics, but with a downward bias.
Investors continue to evaluate negatively the foreign policy background and prospects of the global economy in the context of the continuing high inflation.