FLASH
Shkruar nga Pamfleti
The price of gold has risen to new historic levels. At the beginning of the year it was quoted at $2,040 per ounce, while today it is being bought at a price of $2,630.
In January 2024, gold was selling at $2,040 per oz, but over the past few weeks the price has reached $2,630 with an annual increase of 37%.
The increase in inflation in recent years, and estimates that its value will not fall anytime, has helped to increase the price of gold, and past events with strong price fluctuations have proven this trend.
Also, the deterioration of geopolitical developments in Ukraine and the Middle East has increased the demand for the yellow metal.
The new record highs for gold worry some analysts, as they believe that geopolitical tensions and macroeconomic data cannot justify such a large increase.
Increased demand from central banks can largely explain the increase in the price of the yellow metal.
Gold purchases by central banks have reached record levels in recent years as financial institutions seek to diversify their holdings and reduce credit risks. China and Russia are the main buyers, followed by India, Turkey and Brazil.
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