Gold experiences a long -term “bull” trend. Prices react to common macroeconomic fears, market analysts say.
Gold futures in the first time history exceed $ 3 thousand per ounce due to increased demand for protective properties. This was proven by the results of the trade on Friday, March 14.
Thus, the April futures for the gold rose of 0.6% and exchanged for $ 3008.5 per ounce. Since the beginning of the year, the cost of gold increased by 12.9%.
In this regard, the spare price of gold increased by 0.5% and reached $ 2995.5 per ounce.
“Gold is experiencing a lasting” bull “trend and ignoring potential negative factors, such as increasing US government bonds and a short -term income. Allegiance Gold Alex Ekkaryan in a commentary for the marketwatch.
The support for gold also weakened the dollar. The ICE DXY Index, which is calculated, shows the dollar dynamics related to six currencies (Euro, Swiss Franc, Yen, Canadian dollars, pounds and the Swedish crown), has increased 0.15%on Friday, but from the beginning of this year it has been stabbed by 4.15%.
There is a chance that the dollar has passed its climax, and therefore, the American currency rate can continue to decline in the coming years or two, which “creates a demand structure for gold,” said David Russell, the strategist trade.
Previously, gold was drawn a record due to the tariff policy of US President Donald Trump. He introduced duties against Canada, Mexico, China and EU.
News from CORRESPONDENT.NET On the telegram and whatsapp. Subscribe to our channels https://t.me/KorresPondentNet and WhatsApp
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.