The cost of gold has reached a new historical maximum against the backdrop of growing geopolitical risks. According to the trading on the Comedx Exchange on Wednesday, February 5, the code in gold reached $ 2870 for an ounce, and April futures reached a peak of $ 2901.5.
Western media noted that the rise in prices was influenced by new trade duties, introduced by the US President Donald Trump administration. This led to increased demand for gold as a reliable asset during periods of instability.
An additional factor was the weakening of the dollar that falls in the second session in a row. In part, this is due to the latest report on the state of the labor market in the United States, which indicates the gradual cooling of the economy. The dollar index in the morning traded at 107.63, declining 0.34% after trying to reach the mark 110.00 at the beginning of the week.
In general, gold demonstrates rapid growth, exceeding 10% of the beginning of the year. Similar pace has not been observed since 1980, which has been discussing investors about the possible beginning of a new "golden era". In addition, central banks actively increase reserves, and geopolitical tension only increases interest in precious metal.
