Gold is getting more expensive as a protective asset

The price of gold is rising on Monday evening against the background of sales on world markets and investors' departure from risk to safe-haven assets. The current price of gold is $1,765 per ounce.

Today, there is a sell – off on the world stock and commodity markets: the Asia-Pacific markets fell by 2%, European stock indices are declining by 2%, American ones-by 1.5%. At the same time, oil is getting cheaper by 1%.

Moreover, the rejection of risk and the subsequent withdrawal of investors into protective assets also supported gold. Market participants do not want to take risks before the meeting of the US Federal Reserve System.

The Fed meeting will be held on Wednesday. The regulator will publish a decision on the rate, asset repurchase, and also provide macroeconomic forecasts. Investors hope to receive signals about the future monetary policy of the regulator and about when the Federal Reserve will begin to curtail measures to support the economy.