Gold prices continue to rise amid increasing geopolitical tensions

Gold prices have hit a new record and continue to rise amid rising geopolitical tensions in the Middle East and expectations of Israeli retaliation after attacks by Iran, Report informs referring to MarketWatch.

Prices for June gold futures on the New York Comex Exchange at the end of the session on April 15 increased by 0.4% to $2,383 per ounce.

During trading on April 16, their price increased by 0.3% to $2,389.5 per ounce.

Citi Research analysts predict that gold may rise to $3,000 per ounce in the next 6-18 months. In their opinion, the market is supported by factors such as sustainable consumption and purchases by the world’s central banks.

Experts raised their forecast for the average price of the precious metal this year by 6.8%, to $2,350 per ounce, and next year by 40%, to $2,875 per ounce.