Gold prices continue to rise: What the experts say

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The price of gold continues to grow steadily, demonstrating impressive dynamics. At the beginning of the week, the price of the precious metal increased by more than 1%, and December futures on the New York stock exchange Comex reached $ 4,260.40 per troy ounce. The financier told the BUSINESS MAGAZINE what is behind the "gold rush".

This week was a continuation of a powerful uptrend: during the previous trading sessions, gold rose in price by more than 5%, updating the historical maximum and coming close to the level of $ 4,400. Since the beginning of the year, the price of precious metals has increased by 64.7%.

Experts point out that the current growth is not just a short-term speculative wave, but the result of structural changes in the global market. In their opinion, we are witnessing not so much an increase in the price of gold as a large-scale devaluation of the dollar. Amid geopolitical tensions and economic uncertainty, confidence in traditional assets, including the US currency and government bonds, is falling, forcing investors and central banks to actively shift capital into gold as a protective asset.

According to financier and economist Ilya Blinov, global gold prices are rising amid expectations of lower interest rates by major central banks. According to the strategic financial director, a steady trend is forming in the market to move away from dollar assets in favor of precious metals.

"Today, money remains expensive all over the world." The era of high stakes continues. However, investors are predicting the beginning of policy easing by the Federal Reserve and the European Central Bank. Against this background, gold and silver look more attractive instruments," Blinov notes.

The geopolitical uncertainty gives an additional impetus to the demand for precious metals. According to the expert, amid the tensions of recent years, investors and central banks are seeking to increase the share of reliable assets in their reserves.

According to him, in the short term, precious metals will retain their growth potential based on expectations of monetary policy easing, but in the long term, a correction is possible, which will depend on geopolitical factors and regulatory decisions.