The gold price tries to gain a foothold above the level of $1,800

By 8:36 am Moscow time, the troy ounce cost of gold increased by $3.55, or 0.2%. It traded at $1,807.65. Silver has also risen in price. The ounce cost rose to $22.508, or 0.59%. The main reason for the rise is the weakening of the US currency. Analysts expect that by the end of this week the dollar index may show a decline of 2%. This will be the largest drop in the index since March 2021. A cheap dollar is a favorable factor in the gold market. Despite this, the demand for precious metals from investors is growing at a slow pace. They look to other assets, which include US government bonds. Their profitability has been on the rise in recent years. The day before, it rose by 0.065 percentage points to 1.836%. On Friday, the growth in the yield of securities continues. Analysts believe that in the near future, the price of gold will be near the $1,800 mark. Further dynamics of quotes will depend on data on unemployment and inflation in the US.


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Arseny Kudrin

Publicist, trader

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