Gold has fallen to a minimum since June

By | September 24, 2020
Gold has fallen to a minimum since June

The cost of gold has been declining to a minimum since June on the strengthening of the dollar, according to trading data. As of 17.46, the price of December gold futures on the New York stock exchange Comex fell by 0.36%, or 7.2 dollars – to 1861.45 dollars per troy ounce; December silver futures fell by 3.02% – to 22.41 dollars per ounce.

As experts note, the price of gold is falling for the fourth consecutive trading session. During this time the metal has fallen in price by more than 5%, and its value has fallen below the psychological mark of 1.9 thousand dollars per ounce. During the trading on Thursday, the indicator reached the level of 1.852 dollars per ounce, which is the minimum since June 21.

The main factor affecting the dynamics of gold prices remains the dollar rate.

“A strong dollar is like a stone around the neck at the prices of precious metals, it puts pressure on the cost of gold, despite the aversion to risk,” Bloomberg quoted Commerzbank analyst Carsten Fritsch as saying.
Earlier it became known to TP that Russian banks are increasing their investments in precious metals. This trend is the fourth month in a row, and last August they grew by 26.2%.