Gold prices fell to record lows

On October 21, gold prices fell for the first time in an extended period. The spot price decreased by 6.3%, to $4,082 per ounce (approximately 31 g - ed.), which was the largest drop since August 2020.

This is reported by "Kommersant".

Silver prices also showed a significant decrease in the spot market - by 8.7%, to $47.9 per ounce. Gold futures with December delivery became cheaper by 5.3%, to $4,129 per ounce.

Experts debate whether this is a short-term correction or a change in the long-term trend. At the end of last week, gold futures with December delivery reached a historic maximum of $4,350.

Among the reasons for today's decline, analysts cite a possible attempt by investors to lock in profits after record values, the recovery of the dollar exchange rate, and the expectation of an imminent rate cut by the US Federal Reserve System (FRS). There are also suggestions that the reason could be the improvement of dialogue between the US and China on trade issues, which weakens investors' interest in gold, which is traditionally viewed as a safe haven.