According to experts, the price of the yellow metal traded in European currency has increased by more than 6% in June 2019. On the last day of the last month, June 30, they were given $1,409 for 1 ounce of gold, which corresponds to 1237.81 euros.
According to analysts, the cost of a precious metal traded in euros rose by 6.6% in a span of 1 month, which was the largest monthly increase since June 2016. Three years ago, the price of gold increased by an impressive 9.5%. Experts believe that such a significant increase was caused by the referendum on the British withdrawal from the EU, which took place on June 23, 2016. The referendum was held on Sunday, and the very next day, the price of gold in euros rose by 7.5%.
At the moment, the yellow metal is seen rising in price against the backdrop of growing geopolitical tensions and problems in the global economy. The focus of all news media is on events in the United States. According to representatives of the US Federal Reserve, by the end of this year, the process of lowering interest rates may begin. America's trade war with China does not end, and the conflict between the United States and Iran almost provoked a military confrontation. Against this background, the cost of precious metals traded in US dollars, was able to overcome the long-term resistance level near the $1,350 mark for 1 ounce.
Currently, experts fix a "bullish" trend for gold. Many of them believe that growth will come only after a rollback to the level of $ 1350. The precious metal course has been growing for the fifth week in a row, and this is not the limit. Some analysts are confident that gold will rise in price to $ 1,500, entrenched before it at around $ 1,350.
Last month, in London gold market, the value of precious metals traded in European currencies reached 1,256 euros. This is only 10% less than the record level of 1,382 euros for 1 ounce, which was recorded in October 2012.
