Gold in anticipation of the crisis

Gold in anticipation of the crisis

This week, gold prices topped $ 1,600 an ounce. In the coming years, gold may rise in price at times, some experts believe. Analysts interviewed by Vesti.Ru predict that due to the debt crisis in Europe, the threat of delinquency in the United States and the problems in China, the price of gold will run towards new records.

On Monday, July 18, gold prices on the New York Stock Exchange reached a level close to $ 1609 per troy ounce. And on Tuesday, demand for gold from investors, which has become a “safe haven” for them, amid the worsening eurozone debt crisis and the threat of delinquency in the United States, continued to grow.

In this context, in particular, British experts argued about other options for the development of events in the market “gold”, presenting polar versions. Thus, an expert from the financial company Barclays Wealth Manpreet Gil said he does not recommend investors to rush to invest in precious metals. As he recalled, the rise in gold prices, similar to the current one, was observed in the eighties, after which they fell by almost 60%. According to the forecasts of his other English colleagues, in the coming years gold may rise several times, reaching the level of $ 5,000 per troy ounce in 2020.

Over the past week, gold prices have risen by 3%, which has not been observed since February 2009. In 2010, they rose by 30%. True, earlier this year they began to decline, but in March they began to grow again and in April exceeded the level of $ 1,500 per ounce. As a result, in mid-May, representatives of Germany’s largest financial institution, Deutsche Bank, suggested that in the next eight months gold prices could rise to $ 2,000 an ounce. True, in late May, the price of gold fell by 1.3%. And now it’s back up.

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