The world's largest gold bar weighing more than 300 kg was unveiled in Dubai

In Dubai, the Emirates Minting Factory company has produced and presented a giant gold bar - it entered the Guinness Book of Records. This was reported on November 20 by the press service of the government of the emirate in the social network X (former Twitter).

It is noted that the gold bar weighs more than 300 kg. At the closing ceremony of the Dubai Precious Metals Conference 2024, the company was awarded a certificate of the Guinness Book of Records.

Earlier, on October 30, the exchange price of gold reached a new record of $2800 per troy ounce. Later, the price fell to $2789, follows from the Comex exchange data. Experts noted that the growth in the cost of gold on the exchange is influenced by a number of factors, including geopolitical tensions, instability, increased demand for precious metal on the part of central banks, as well as investors' expectations of further rate cuts at the meeting of the Federal Reserve System (FRS) of the United States.

Thus, portfolio manager of MC "Alfa Capital" Dmitry Skryabin specified that the increase in prices for precious metal is also associated with global economic concerns and geopolitical instability. In addition, active purchases of gold by central banks of such countries as China, India and Singapore contribute to the strengthening of the cost. According to him, in the third quarter of this year, global demand for gold increased by 5%, exceeding $100 billion.