Tuesday 2 January 2018

The gold with the highest growth in three years in 2017

Gold continued its rise to a three-month high on Friday, which helped it mark its biggest annual increase in three years. To a large extent, the weakness of the US dollar and the recent political tensions contributed to the rise in the price of precious metal.
The dollar recorded its worst year against the rest of the major currencies since 2003, following North Korea's tensions and continued record low inflation.
The dollar index reached a three-month minimum on Friday. Traditionally, the price of gold is rising when the dollar becomes cheaper.
After all, gold ended the year at levels above $1,300, marking a momentum of $1,307.60 per ounce at the end of last week.
Or the rise for the yellow metal was 12% for the year. And, although exceptional, this result is close to half of the performance of some of the leading US indices.
Returning to the last Fed meeting, despite the rise in interest rates by the reserve, there was a less aggressive tone in terms of the future policy of raising interest rates, according to analysts. This further contributes to the appreciation of precious metals.




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