Gold and silver prices hit historic record - REASON

The price of gold in global commodity markets has once again conquered a historic peak.

According to BAKU.WS, the price of one troy ounce (31.1 grams) of gold in international exchanges has surpassed 3,618 US dollars, rising to an unprecedented level.

According to COMEX (New York Commodity Exchange) data, the price of gold for December futures increased by 0.33% in the last trading session, reaching 3,618.2 dollars. Silver prices also saw an increase - December futures per ounce rose by 0.37% to 41.57 dollars.

What are the reasons for the price increase?

Experts state that military-political tensions in the Middle East and Asia have directed investors toward gold, which is considered a safe haven. Signals from the US Federal Reserve System (FED) regarding interest rate reductions have lowered the value of the dollar, directly affecting the price of gold.

Global economic uncertainty, supply chain problems, and mass gold purchases by central banks have further stimulated the market.

What is expected in the coming days?

According to analysts' forecasts, the price of gold could rise to the range of 3,650 - 3,700 dollars in the coming days. If the FED makes an additional interest rate cut in September and geopolitical tensions continue, gold could increase to as high as 3,800 dollars.

However, some experts warn that the rapid growth observed in the market in recent weeks creates short-term speculative risks. If political risks decrease and the dollar strengthens, the price of gold could retreat to the 3,500 dollar threshold.

Against the backdrop of gold's increase, activity in the silver market has also intensified. The price for December futures has risen to 41.57 dollars, which is considered one of the highest indicators in the last 12 years.