Exchange prices of gold rose to their maximum in five weeks amid geopolitical tensions and the risk of recession in the United States. Vedomosti reported, citing the trading data.
Yesterday, June gold futures on the New York stock exchange Comex rose to the highest level since March 14 — $1,997.6 per troy ounce by 12.47 p.m. (3.47 p.m. Bishkek time — Note of 24.kg news agency). The increase from Friday’s closing price was 1.15 percent. May silver futures rose by 1.67 percent to $26.13 per ounce.
Drivers of growth in prices for both metals were the hostilities in Ukraine and a possible European Union embargo on oil and gas imports from Russia in addition to the announced ban on Russian coal supplies. Demand for gold, which remains an instrument of hedging, is also exacerbated by higher commodity prices, Bloomberg reports.
