Experts did not rule out an increase in the value of futures for gold

The price of gold on the Comex exchange on the night of March 14 for the first time in history exceeded the mark of $ 3 thousand per troy ounce. Gold continues to be the focus of investors' attention amid uncertainty in financial markets, as the precious metal is traditionally considered a protective asset. Independent expert Andrey Barkhota and Natalia Milchakova, a leading analyst at Freedom Finance Global, told Izvestia on March 14.

"Investors' capitals are rushing into gold precisely when uncertainty in the financial markets reaches its peak. It is likely that the influx of purchases of gold and financial instruments linked to the precious metal is associated with the outflow of capital from dollar assets," Barkhota explained.

According to him, investors fear that the period of major changes associated with the actions of the new American administration will be delayed, which will negatively affect the medium-term profitability of investment portfolios.

"Investments in gold against this background can be attributed to the so-called safe harbor. On the horizon of 4-6 months, gold may continue to grow and reach the level of $3.17–3.32 thousand per troy ounce. In the second half of the year, the growth rate of precious metal prices will slow down," Barkhota added.

Milchakova also confirmed that the price of gold is rising against the background of a weakening dollar.

"Last night, gold really tested the level of $ 3,000 per troy ounce and even gained a foothold there for a short time, in the morning the precious metal quotes fluctuate around $ 3,000," she said.

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The analyst attributed the increase in demand for gold to expectations of a "shutdown" in the United States, that is, the suspension of funding for government agencies.

"Another reason that may again lead to an increase in gold prices above $ 3,000 per ounce may be expectations of a resumption of the Fed's interest rate cuts, as inflation in the United States in February, as it turned out, slowed even more than analysts had predicted," Milchakova added.

She also drew attention to the high growth rate of the gold price. Over the past month, gold has risen in price by 3.4%, and by 12.4% since the beginning of the year. This is a very high growth rate for precious metals, which are rare in stable times. Most often, gold is growing slowly, at 3-5% per year, but in the last three years, the price of gold has increased significantly.

In addition, in the medium term, the rise in the gold price will be stimulated by geopolitical instability, as well as the growing distrust of the US dollar from emerging markets.

"We believe that this year gold may still rise to at least $ 3.2 thousand per troy ounce," Milchakova summed up.

Earlier, on January 18, Evgeny Shatov told Izvestia about current investment instruments. According to him, gold and silver retain their role as protective assets in the face of geopolitical instability and inflationary pressures. These instruments can become an important part of a diversified portfolio.