Gold is falling in price against the backdrop of the strengthening of the dollar

Quotes of gold futures on the London Metal Exchange on Monday fell to less than 1 thousand 200 dollars per troy ounce for the first time in 17 months. On the New York Stock Exchange Comex, December contracts fell 1.2% to 1,204 dollars 20 cents per ounce. Since the beginning of the year, the value of the contract has decreased by 9.4%. The strengthening of the US dollar negates the positive impact of increased demand for gold, which is a protective asset, against the backdrop of geopolitical risks. At the same time, analysts of ICBC Standard Bank expect the gold price to recover to $1,300 per ounce by December 2018.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong