GOLD NEWS

Gold reaches a new all-time high amid falling global inflation and growing demand from China

01 April 2024

Gold is reaching a new all-time high amid falling global inflation and growing demand from China, Tengeonomika reports .According to exchange data, the price of the world's main precious metal exceeded USD 2,270 per ounce and has increased by 14% since mid-February thanks to a number of factors, according to Bloomberg:The prospect of monetary easing by major central banks, especially in the US and Eurozone.

Increased tension in the Middle East and Ukraine.

Global central banks are actively buying gold, especially from China, while demand for bullion from Chinese citizens remains high amid ongoing problems in Asia's largest economy.For Kazakhstan, this factor is also significant, since part of our country’s international reserves is stored in monetary gold, the share of which in gold and foreign exchange reserves in February amounted to 55% or about 20 billion USD.

Source: https://azh.kz/ru/news/view/100259