One of the reasons for the price increase was the death of Iranian President Ibrahim Raisi due to a helicopter crash.
Gold prices updated their session record on Monday, May 20, reaching $2,450.05 per troy ounce. This is proven by the trading results.
According to Western media, the quotes are supported by expectations of at least two interest rate cuts by the US Federal Reserve System (FRS) this year, which intensified after the release of new statistical data last week indicating of slowing inflation.
In addition, traders paid special attention to defensive assets after the news of the death of Iranian President Ibrahim Raisi due to the crash of his helicopter, which increased political uncertainty in the Middle East. .
At 10:30 Kyiv time, gold was traded at $2,442.60 per ounce – 1.04% more expensive than at the end of the last session.
Let’s remember that at the beginning of December 2023, the price of gold exceeded $2,100 per ounce for the first time in history. At the time, analysts predicted that the price of the precious metal could remain above $2,000 per ounce in 2024. In early April, the price of gold reached a new all-time high.
Source: korrespondent
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