The price of gold is slightly declining

In morning trading, the price of gold is slightly reduced. By 7.55 Moscow time, the price of a troy ounce of this precious metal fell by 8 dollars 10 cents or 0.4% to 1992 dollars 30 cents. Silver also fell in price. The cost of its ounce fell to $26.13, or 0.48%. Earlier this week, the price of gold showed a steady increase. According to the results of two trading days, it has risen in price by 3.9%. Demand for precious metals has increased due to the risks associated with geopolitical tensions. Later, investors began to return to risky assets. But they did it carefully. Experts believe that in the short term, gold will continue to be in demand as a defensive asset due to continued geopolitical tensions. In addition, the rapid rise in inflation in the United States is likely to continue. This is indicated by the latest statistics. In February, consumer prices in the country showed an increase of 7.9%. January inflation in the US was at 7.5%.

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Arseny Kudrin

Publicist, trader

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