The “bitcoin behavior” in the price of gold continues, APA-Economics reports.
The precious metal has renewed its historical record.
December gold futures on the COMEX exchange increased by 1.05% to 3,908.90 USD/troy ounce. The spot price of gold increased by 0.78% to 3,886.54 USD/troy ounce.
At the same time, December silver futures on the COMEX exchange increased by 3.44% to 47.97 USD/troy ounce.
Analysts note that the main reason for the rise in gold prices is expectations that interest rates will fall in the United States and investors prefer precious metals as a deposit against deflation risks. The weakening of the dollar also pushed up the price of gold and silver.
It should be noted that the price of gold exceeded $3,900 on October 1 and rose to $3,903.