Gold moderately rises in price and ends the month in positive territory

Gold prices are rising moderately on Monday and are preparing to end the month with a record increase since March. The current quote of the precious metal is $2.010.15 per troy ounce. Gold has risen in price by more than 2% in a month.

Gold prices were supported by the depreciation of the dollar against major world currencies against the backdrop of slowing inflation in the United States and expectations that the Federal Reserve System and other regulators may soon complete the cycle of tightening monetary policy.

«The positive dynamics of gold was the result of expectations that central banks around the world are approaching the end of interest rate hike cycles,» analysts say.

The index calculated by RICS, reflecting the dynamics of the dollar against six major currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona), fell by 0.03% during trading to 101.347. Since the beginning of July, the index has lost about 0.9%.