On Monday, gold climbed past $2,000 per ounce, marking its highest price level since May. Market data confirms the move and suggests a shift in sentiment among investors.
Spot gold in Hong Kong advanced about 0.6 percent to around $2,013.10 an ounce. The metal kept rising even as the U.S. dollar weakened, a trend tied to growing confidence that the Federal Reserve has concluded its recent cycle of rate hikes. Meanwhile, December futures on the Comex market traded above $2,013.40 per ounce as of 13:30 Moscow time.
Since the start of November, the price of gold has risen roughly 1.5 percent. Silver also posted gains on Monday, with December silver futures moving up to $24.79 per ounce, the strongest level seen since August. Over the past month, silver prices have increased by about 8 percent. Market observers note that the broader precious metals complex is benefiting from a cautious but constructive outlook for inflation and interest rate paths.
Vladimir Grigoriev, a candidate of economic sciences, pointed out in late October that allocating savings to gold can be an effective way to preserve wealth during times of uncertainty, a view echoed by many investment commentators who favor gold as a hedge against inflation and currency volatility.
Earlier commentary from Russian financial voices highlighted four strategies to pursue profitable investments in 2024, underscoring a diversified approach that includes precious metals alongside other assets to balance risk and potential reward. This balanced perspective remains relevant for investors seeking to navigate ongoing market shifts and protect purchasing power over time.