Baku. 23 January. REPORT.AZ/ Price of gold reached its highest level on world market since November 17, 2016 at 1219 USD per ounce.
Report informs, this is due to investors' concerns in connection with the possible protectionist decisions of the new president of the United States, which, in turn, has led to the increased demand for risk-free financial assets.
Depreciation of the dollar also supports the gold price. Notably, the basic rate of the currency pair dollar / euro hit a month high - 1,0750 USD/EUR. Further appreciation of dollar forecasted, which eventually will rise gold price.
"This is a temporary phenomenon. In the medium-term price of gold will fall below 1 000 USD an ounce", analysts said.