Gold prices reached a year’s peak on Thursday, February 11, against the background of economical and geopolitical problems in the world, forcing investors to seek for financial refuge. Futures contracts for gold on NYMEX has risen by 3,3%, to $1233,90 for troy ounce – the highest value since February, 2015. The metal price has risen by 16% since the beginning of the year due to the volatile situation in the world markets and weakening expectations of USA Fed’s interest rate rise. The dollar continuation its downward trend against other major currencies, stock market slump and low prices for oil make the investors nervous about volatile economical situation, and they invest in gold.
«Highly liquid, suitable for any currency exchange, gold is another harbor, where many investors from more problem countries are rushing forward», George Gero, RBC Capital Markets analyst says.