Gold prices rose last week for the first time in the last month – Forex

The value of gold in the past week showed the first weekly growth in 4 weeks. The main factor of growth was concern about the tensions in the Middle East over the attack on Saudi Arabia's oil facilities, as well as the subsequent call by the United States to form a coalition to contain the threat posed by Iran. Gold was also supported by a rate cut by the Federal Reserve. Experts believe that against the background of the slowdown in global growth, we should expect monetary easing by central banks around the world. These moves by regulators will also push gold prices up. At the same time, it is noted that the US dollar at the end of the week strengthened by 0.23% against a basket of major currencies, which slightly lowered the attractiveness of gold. On Friday, the price of December gold futures on the Comex commodity exchange increased to 1 thousand 511.10 dollars per troy ounce.