Economy

Gold on the world market fell to a three-month low

Exchange-traded gold futures for December delivery fell by more than 2% on October 22 — to $4055 per troy ounce by 17:00 Minsk time. According to Trading Economics analysts , the price drop is due to rising oil prices and investors' concerns about inflation.

The image is illustrative. Photo: magnific.com

The lowest gold price reached $4051.7 per ounce. This is the lowest level since early August. Silver also fell: its price dropped below $56 per ounce, approaching a three-month low.

Amid escalating tensions in the Middle East, Brent crude oil rose above $112 per barrel on October 22 for the first time since May during daytime trading. By evening, its price slightly decreased — to $111.3.

At the same time, the yield on US Treasury bonds reached its highest level in a week. In such a situation, investors prefer income-generating debt instruments over gold, the ownership of which is associated with costs.

Previously, due to the fall in world prices for precious metals, the Ministry of Finance of Belarus sharply reduced the purchase prices for gold, silver, and platinum that the population sells to the state.

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