• Register

Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Gold has exceeded $2,400 per ounce for the first time in history


April, 12 2024
watermark Economic news

Gold prices reached a new record in Friday trading, breaking the $2,400 per ounce level for the first time in history. At the moment, precious metals quotes touched the $2,418 per ounce mark. Since the beginning of the year, the value of gold has increased by more than 14%.


In general, the increase in prices for precious metals is due to expectations of a Federal Reserve interest rate cut, high geopolitical risks and active demand from central banks. Analysts predict that these factors will remain relevant and growth will continue.


Thu Lan Nguyen, head of commodity market research at Commerzbank, noted that only secondary statistics from the United States are expected next week, and gold will not experience significant pressure. 


Analysts note technical resistance levels in the areas of $2,450, $2,500 and $2,645 per ounce, while emphasizing that any correction, if it occurs, will most likely be insignificant.


Top Top