The expert named the reasons for the increase in the value of gold futures
The price of gold futures has reached a historic high, exceeding the mark of $ 3,200 per ounce. The increase in the value of the precious metal is associated with growing concerns about the impact of duties on the global economy, which has made gold a more attractive asset for investors seeking safe haven. Olga Veretennikova, Vice president of the Borsell analytical company, told Izvestia on April 11.
"Prices rose on Friday, exceeding the previous historical maximum posted on Thursday. By the end of the week, prices may show an increase of about 6%. The status of gold as a safe haven was also emphasized this week by US President Donald Trump," she explained.
The expert added that drastic changes in US policy regarding duties caused a large-scale sale of American stocks, bonds and the dollar, which occurred amid growing fears of a possible global recession.
"Risks and uncertainty persisted even after the announced 90-day pause in tariff increases for most trading partners, with duties on all Chinese imports now amounting to at least 145%. In response, China raised tariffs on U.S. goods to 125% on Friday," the expert noted.
According to the expert, trade tensions have exacerbated distrust of the US dollar, which increases demand for safe assets.
"Gold's growth of more than 20% this year has also been supported by central bank purchases and hopes for more monetary easing by the Federal Reserve. Most likely, the growth will continue," Veretennikova summed up.
Earlier, on January 18, Evgeny Shatov, a partner at Capital Lab, 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.
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