Gold fell in price after price growth during eight trading sessions

Investor interest in gold, as a defensive asset, has declined slightly amid signs of easing geopolitical tensions. As a result of trading on Tuesday, the precious metal fell by almost 1%. At the trading session close, the value of the troy ounce was $1,851.10. The price of a silver ounce fell to $23.342, or 2.1%. The market for industrial metals also saw a decline in prices. Thus, a copper pound fell to $4.532, or 0.5%. Prices for platinum and palladium fell by 0.7% and 4%. The cost of their ounce fell to 1020 dollars 40 cents and 2252 dollars 30 cents, respectively. Experts note that shortly, gold quotes are likely to be near the level of $1,800 per troy ounce. It is difficult to predict further dynamics of the precious metal price. Much will depend on the development of the geopolitical situation. Despite some easing of tension, the existing problems have not been resolved.


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Arseny Kudrin

Publicist, trader

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