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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Gold finished trading above $2,100 for the first time and continues to grow

March, 05 2024
watermark Economic news

Gold prices closed Monday's trading at a historic high and continued to rise slightly on Tuesday.


April gold contracts on the New York Comex exchange rose 1.5% on Monday and ended at the highest level in history – $2,126.3 per troy ounce. On Tuesday, prices continued to rise by 0.2%, reaching $2,133 per ounce.


The rise in gold prices is supported by expectations of a reduction in key interest rates by the Federal Reserve System in the second half of 2024, analysts say.


In addition, there is a high demand for gold from the central banks of the world after the freezing of Russian gold and foreign exchange reserves in the EU and the United States in the amount of about $300 billion. According to experts, it seems that China, Saudi Arabia and other countries are now thinking whether they should keep all their assets in US government bonds.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.