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- Gold up 1% on increasing risk sentiment
Gold up 1% on increasing risk sentiment
Gold rose more than 1% in today's trading, remaining near the highs of the last two years, recorded on Friday as uncertainty due to Britain's decision to withdraw from the European Union has forced investors to sell shares and invest in safe assets.
On Friday, the increase in the price of gold reached 8%, touching $ 1358.20 - the highest since March 2014.
"The uncertainty around the timing of talks on the withdrawal from the EU not only means that investors become more cautious and buy gold and dollars, but also continues to put pressure on the pound sterling and converted into an irreversible loss of economic activity at the domestic level," - Martin Arnold of ETF Securities said.
Goldman Sachs raised its forecast for gold prices, citing the fact that Brexit could have a more lasting impact on the trajectory of rising interest rates in the United States.
"The price of gold will rise in the third quarter, when they start to feel the full impact of Brexit, but expect it to fall in the fourth quarter after the elections in the United States and against the background of preparations for the next Fed raise rates", - said the financial company Macquarie.
The cost of the August gold futures on the COMEX rose to $ 1340.0 per ounce.
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