Any panic in the financial markets is a blessing for long-term investors in gold, since against this background, the cost of yellow precious metals usually increases. Yesterday, the price of gold in the futures market reached $ 1,580 per ounce, after which consolidation took place. According to market analysts for precious metals, the mark of $ 1,600 per ounce of gold is becoming quite real in the near future.
Some experts argue that if the resistance level is reached at $ 1,588 per ounce, then the price rally in the gold market will continue, and then reaching a price of $ 1,600 will only be a matter of time.
The fact is that gold is always in high demand during a crisis in both politics and the economy. Yellow precious metals are considered by investors as a protective asset to preserve savings from total loss.