Price of gold reaches maximum in last 6 months

17:39 - 27.11.2023


November 27, Fineko/abc.az. The price of gold on the world market has risen to the highest level in the last six months.

ABC.AZ reports that as of 13:30 on Baku time, spot gold prices in Asian trade rose by 0.7% to $2,014.82 per ounce, gold futures on the American COMEX exchange rose by 0.63% to $2,015.70. Reuters notes that these are the highest numbers since May 16, 2023.

Analysts report that gold is getting more expensive amid the weakening of the US dollar and the expectations of the U.S. Federal Reserve System to complete the cycle of interest rate growth. According to Wang Tao, a technical analyst at Reuters, an ounce of spot gold could make a profit of $2,026 to $2,032.

 

 

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