Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Rise in gold prices
World exchanges

Rise in gold prices: reasons for increased interest in the metal

11.05.2020
2 min read

Which global processes are associated with the rise in gold prices

Precious metals do not lose their relevance. Many countries are replenishing their gold reserves by reducing their currency reserves. Such a rush has not gone unnoticed – gold prices are recorded on world stock exchanges. Its value is 1500 dollars per ounce.
The main reason for the rise in the price of the precious metal is the U.S. refusal to reduce duties on goods from China. According to early agreements, countries planned to reduce tariffs, but later the U.S. side decided to postpone the review of duties until the presidential election. This statement contributed to the rise in gold prices by $8. The National Bank of Kazakhstan recorded the cost of one gram of the precious metal at T18,945. The country has a program of sale and redemption of refined gold weighted bullion. They are sold by three banks and several exchangers. According to the data, last year it was possible to sell more than 15 thousand gold bullion bars, the weight of which amounted to 460 kilograms. Their nominal value is from 5 to 100 grams.

Rise in gold prices

World gold reserves for 2019 increased by 68%, due to interest in the metal from central banks of different countries. According to the World Gold Council, in the first quarter of the last period the volume was 145 tons. The leader in terms of procurement is Russia, followed by China. These countries and a number of others continue to buy the precious metal, while reducing stocks of dollars. This policy is connected with the intention to reduce dependence on the American currency. Experts note that the trend will continue this year, but some innovations will be introduced. For example, the assessment of deposits of gold, which is produced by artisanal method, is planned to be carried out in a different way. This sector is about 15-20% of all global production of precious metal. This mining option is used in African countries. A vivid example is Zimbabwe, where people find gold in small quantities, making their contribution to the development of the state economy.
However, the business of such miners will be hampered by the new rules introduced by the Precious Metals Market Association, which is located in London. Now it will be much harder to sell gold legally, as a significant part of the metal produced by artisanal methods is classified as “blood gold”. This concept means that the mining was carried out without observing safety rules and without taking into account the preservation of environmental harm reduction. In addition, child labour is often used in African countries.
Interest in the precious metal from central banks will not decrease for at least a year, which means that the price of gold will also rise.

Tags: World exchanges
0
Previous Post Bitcoin: how digital gold develops Next Post Dentsu Aegis Network: how the advertising market will change in 2020-2021

You Might Also Like

St. Petersburg Stock Exchange
World exchanges
Trading volumes on the St. Petersburg Stock Exchange are growing: an overview on the stock market
07.10.2021
Binance.US
World exchanges
Binance.US acquires brokerage company Voyager Digital
19.04.2023
2019 dividends
World exchanges
Dividends for 2019 will be paid: application of Moscow stock exchange
21.12.2020
Italian exchange
World exchanges
The Italian exchange Borsa Italiana may soon change its owner
19.06.2021
dollar payments
World exchanges
Gemini crypto exchange launches dollar payments
02.05.2025
biotechnology index
World exchanges
NASDAQ Biotechnology Index reaches 3-year high
06.10.2024

Leave A Comment Cancel reply

Your email address will not be published or shared. Required fields are marked * . This comment form is not active and is only used for the theme live preview. No user data is being send nor it is stored with us.

Popular Posts

  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Spokesperson
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Spokesperson
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Spokesperson
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Spokesperson
16.05.2020

Popular Posts

  • Spain’s economy performs best in the EU
  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics