Economy

Gold is unstoppable, unrestrainable, it's already $5100 per ounce

Just yesterday, the five thousand dollar mark was crossed.

Photo by Osaka / Wayne Studio / Getty Images

At 10 AM Minsk time, April gold futures were trading at $5125-$5128 per troy ounce. According to Investing.com data, at its peak last night, the precious metal cost more than $5138.

The spot price of gold rose again by almost 2.5%. However, it only crossed the $5,000 mark on Monday morning, January 26.

Experts believe that the main reason for gold's rise is the increase in geopolitical tensions worldwide. Furthermore, everyone continues to anticipate another reduction in interest rates in the USA.

However, opinions differ regarding the prospects. According to analysts, financial and geopolitical factors will continue to push gold prices higher for some time. At the same time, the risk of a correction is growing in the market, therefore, further investments in gold are now associated with a high probability of a pullback, Investing experts believe.

Last year, the price of gold rose by 64 percent, and almost 15 percent since the beginning of this year.

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