Photo: Nguyen Huy Kham / Reuters
Investors worldwide no longer need gold as a reserve asset amid warming Sino-us relations and improve the situation in the middle East. The price of an ounce of the precious metal fell from the recently achieved maximum values of the data of trading on the new York stock exchange Comex.
The price of February futures for an ounce of gold at the time of publication was equal to 1 549,1 dollar, down by 0.67 per cent compared with the close of the previous trading session. The decrease compared to last week, when prices for the precious metal reached a maximum of 3.2%.
Also recorded an outflow of investment in gold from exchange traded funds (ETFs) — over the past few days it amounted to 20 tons.
The decline in interest in gold is due to the fact that investors no longer see him as reliable protection of their investments against the background of international tension, writes Bloomberg. This week it is expected the signing of an agreement between the US and China, which should at least reduce the tensions in the trade war. Besides, the December data of the statistical service of China suggested increased above expectations exports from the country.
In addition, tensions in the middle East caused by the escalation of the conflict between the US and Iran, was sleeping after the appeal of the American President Donald trump to the nation.
Video, photo All from Russia.