The price rally of gold in June of this year was made possible by a statement by the US Federal Reserve leadership about a possible change in monetary policy before the end of this year. This is stated in the monthly review of Scotiabank.

Growth drivers for the yellow precious metal were reports from some Central Banks about easing monetary policy to maintain economic activity in their countries. Trade conflicts and geopolitical tensions continue to push gold prices up. Thanks to all these factors, the cost of gold could surely consolidate above $ 1,350 per ounce, which was impregnable for many years. Now this level will be a strong foundation for further growth.

Now the further rise in gold prices will largely depend on the American policy and decisions of the Federal Reserve, as well as on news relating to world trade. The fact is that gold is an insurance for investors against the numerous risks associated with geopolitical, trade and currency conflicts.

In June of this year, silver attracted a record number of investors over the past five years, but this precious metal could not show a price rally like gold. Therefore, the mark of $ 16 per ounce remained unbroken.

The modern monetary system can no longer exist in the form that we know it. Even if interest rates and inflation in Western countries are low, but the level of debt load has reached alarming proportions. Sooner or later it can lead to a collapse of the monetary system. Throughout history, gold has repeatedly proven that it can save savings from the collapse of the financial system. A striking example is the Weimar Republic in Germany, and nowadays Venezuela can be such an example. Therefore, forward-thinking investors are now gradually increasing their personal gold reserves in order to be ready for any situations in the global economy.