Experts noted the high demand for gold last week


According to experts, last week, there was an increased interest in gold among investors. It was caused by panic among the participants of the American stock market due to the massive sale of shares. The yellow metal has become a safe haven for market players, in which it is easy to save capital in conditions of instability.

Last week, the cost of precious metals reached $ 1,235 for 1 troy ounce. Later, it consolidated above the long-term resistance level. Analysts believe that the current situation has opened the way for gold to reach $ 1,250.

Yellow metal can reach price peaks, experts believe. In the case of the resumption of sales on world stock markets, market participants will resume buying gold, and it will rise again. Only the strengthening of the American currency and the actions of the Federal Reserve System (FRS) in raising interest rates can prevent this. However, this can happen no earlier than 2019, analysts sum up.

The material has been provided by InstaForex Company -