World gold prices rose due to lower confidence in dollar

The world prices for gold updated the historical maximum on the background of political uncertainty, inflation and active purchase of precious metal by central banks. Troy ounce rose above 2.15 thousand dollars.

As experts note, the price growth was also affected by the expectation associated with the election cycle around the world, primarily in the United States. Another reason is the increasing U.S. government debt, which reduces investor confidence in the dollar and provokes an increase in demand for gold.

In 9 months of 2023, the central banks around the world bought a record 800 tons of precious metal, and in January 2024, the reserves of world regulators increased by another 39 tons. Russia at the end of last year accumulated a record 2.35 thousand tons of gold, its value exceeds 150 billion dollars.