A significant increase in gold prices is predicted at the end of 2024 15:43

According to updated data, the foreign exchange price of gold will exceed $2,600 per ounce by the end of this year. to guess Swiss bank UBS. Before that, analysts were predicting prices would rise to $2,200 per ounce.

At the same time, the price of the metal is expected to consolidate above $2,400 per ounce by October. Currently, the price of June gold futures is trading around $2,350 per ounce.

UBS analysts state that one of the main drivers of the increase in precious metal prices is high demand from global central banks. This year’s main buyer is the People’s Bank of China.

Russia according to first quarter results fell It rose from sixth to eighth place in the world in terms of gold and foreign exchange reserves. The country’s reserves are estimated to be 424 billion dollars.

Previously AppearedMore gold is stored in Russians’ safes than in the basements of the Central Bank.

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Source: Gazeta

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