Ціна золота досягла психологічної вершини

The price of gold has reached a psychological peak

In July 2024, gold prices reached their highest levels in recent years, setting new psychological highs. Among the medium-term trends affecting the prices of the precious metal, we can note a number of factors that determine the increase in demand and difficulties with its supply.

The National Bank dramatically increased its gold holdings in the last quarter, expressing deep faith in the metal's stability as a hedge against currency fluctuations. After the global financial instability in 2023, investors gained faith in gold as a safe asset.

In the real sector, demand for gold has increased due to increased production of electronics and other high-tech goods that use gold in the manufacturing process. This led to an increase in industrial demand for the metal.

However, investment demand played a decisive role in raising prices. Investors, looking for safe assets to preserve their capitals, turned their attention to gold, considering it a stable asset in unstable economic conditions.

Geopolitical instabilities, such as conflicts in certain regions of the world and sanctions imposed on some countries, have also played a role in increasing gold prices. Investors are looking for a safe haven for their investments, which has led them to turn to gold as an effective hedge against geopolitical risks.

Forecasts for the coming months indicate a possible further increase in gold prices, especially if geopolitical and economic instability persists. Investors and analysts continue to closely monitor market conditions to make the right investment decisions amid the rising price of this strategic metal.