The geopolitical crisis, which deepened Russia with the occupation of Ukraine, caused commodity prices, especially oil. Increased geopolitical risks and inflation concerns continue to direct investors to safe ports. In this respect, gold prices climbed to the peaks of the last 2 years and exceeded another psychological level of another psychological level on Monday. Market comments and predictions of analysts Kriptokoin.comWe have compiled for readers.
The Central Bank of Russia will continue to buy gold
The Central Bank of Russia announced that it will continue to purchase gold from the domestic market as it took measures to help financial stability between the Western sanctions against the country due to the war in Ukraine. Since the ruble collapsed and Russian stocks have fallen, this is largely considered as a fire extinguishing exercise.
According to the World Golden Council (WGC), Russia holds a slightly below 2,300 tons of gold at the end of January or 21 %of the total reserves. Sırasında No symptoms have been given about the scale of future purchases, but we will continue to watch the developments, Kr said Krishan Gopaul, Market Intelligence Manager in WGC.
In terms of a small background, the Central Bank of the Russian Federation had suspended gold purchases in 2020, when the overall level of gold reserves did not change to a great extent. Russia’s banking regulator announced on February 28 that it plans to continue purchases from domestic producers.
Analysts are waiting for the testing of the highest level of all time
Gold has seen a dramatic rise since Russia decided to occupy Ukraine. Spot Gold, in the early hours of the day since August 19, 2020, the highest level of $ 2,000,69 after touching the highest level began to decline. However, at the time of writing, it was traded at a daily $ 1,979.3. The US gold futures increased by 0.9 %to $ 1,984.3.
On the other hand, while investors are looking for a safe harbor, after the digital currency is launched as a safe port instead of gold, crypto currencies fall interesting. In the coming sessions, analysts and investors are waiting to see if yellow metal can reach $ 2,075,14, the highest level of all time.