The price of gold at the end of the week rose based on the aggravation of geopolitical tension

According to trading data, on Friday, the price of gold on the New York Stock Exchange Comex increased by $3.5 to $1,223.70 cents per troy ounce against the backdrop of worsening tension due to a twofold increase in US duties on steel and aluminum from Turkey, finversia.ru wrote. After the statement of US President Donald Trump that he had approved the increase of duties on aluminum and steel from Turkey to 20% and 50% respectively, the Turkish lira fell to the historic minimum, losing 20% of its value for the day. The demand for gold, traditionally considered a safe asset, increases during geopolitical tensions.

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