Gold prices fell on Monday due to the strengthening of the US dollar. Gold futures for February delivery fell 0.16% to $1,832.5 an ounce. At the same time, silver rose in price by 0.33% вЂ” up to $26.718 per ounce.
Thanks to the growth in the yield on US government bonds, the dollar index rose by 0.39% вЂ” to 90.45 points, which led to a decrease in the value of gold.
At the same time, analysts at the Danish investment bank Saxo Bank are confident that gold prices will begin to rise again in the coming weeks, as the negative effects of the COVID-19 pandemic and increased inflationary pressures will require the introduction of stimulus measures in countries around the world.
Against this background, experts expect that the price of gold will rise to record levels that were noted in August last year. Experts expect that the introduction of additional economic stimulus in the United States will increase inflation in the country and push gold prices up.