Gold prices have increased to a new record high level due to signs of a weakening American economy and signals from the American Central Bank (FED) that it may reduce interest rates in the coming months.
The price of an ounce of gold on the physical market in London increased by 0.3 percent to $2,155.
On the American futures market, the ounce traded at a 0.2 percent higher price of $2,163.
In periods of falling interest rates, investors turn to gold, which is unaffected by changes in borrowing costs.
Economists predict China’s economic slowdown, which will slow the growth of the world economy.
Therefore, in an uncertain financial environment, gold will remain a safe investment, economists note.
At the same time, the price of an ounce of silver decreased by 0.4 percent on the Physical Market – to $24.08.
Platinum also fell in price by 0.3 percent – to $904.
According to economic portals, the price of palladium fell the most, by 1.5 percent – to $1,026.
