Gold has updated the historical maximum and approached the key mark

The price of gold has reached a record high amid expectations of an imminent rate cut in the United States and increased demand for protective assets after the fall in stock and debt markets.

The quotes added 0.7%, rising to $3,556 per ounce, exceeding the previous maximum. Over the past seven sessions, gold has risen by 5% due to increased interest in safe haven assets amid concerns about the Fed's policy and the debt burden of developed economies.

Since the beginning of the year, the metal has increased in price by more than a third, securing its status as one of the most dynamic raw material assets. In three years, gold and silver doubled in price, driven by geopolitical and economic risks.

On the spot market, gold is trading at $3,554 per ounce (+0.6%), silver rose to $41.02, palladium added 0.6%, and platinum remained almost unchanged.