Gold is becoming more expensive on Tuesday, trading at the maximum for five months. The August gold futures rose in price during trading by 0.7%, to $ 1918.6 per ounce, evidence of MarketWatch.
In May, the Dragmetall has risen in price by almost 8%, which has become the most significant monthly increase in the price since July last year.
Gold is one of the key tools for hedging inflation risks, and growing investors’ concerns about accelerating inflation in the United States and other countries of the world support the demand for precious metals. In addition, the demand for gold is maintained as an asset of the “quiet harbor” on the background of the still high incidence of COVID-19 in a number of regions of Asia, as well as the cryptocurrency sales sales.