Gold rose in price against the backdrop of a slowdown in economic growth

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Gold prices rose on Tuesday. The slowdown in economic growth caused an increased demand for defensive assets. The IMF lowered its growth forecasts for China and the EU. The destabilization of the world economy can continue if the trade conflict between China and the United States does not come to an end. World economic news has sparked investor interest in traditional assets like gold. However, metal prices will not rise too quickly due to the appreciation of the US dollar. The value of the dollar has been close to the maximum for three weeks already. An increase in dollar quotes to other currencies may adversely affect the cost of raw materials that are traded in dollars. Its price may be inflated for holders of other currencies.

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
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