Gold prices climb above $2,000 amid a bleak outlook for the global economy

The cost of gold on Monday returned to March levels - at the Comex exchange June futures overcame $ 2,000 per troy ounce. By the evening the prices were slightly lower within the framework of correction - the precious metal was traded at $1985.30, showing growth of 0.53%. The current situation in the world economy strengthens demand for safe assets. The World Bank downgraded its forecast for growth this year to 3.2%, which is almost a percentage point lower than the previous estimate (4.1%). The reasons, as before, are the situation around Ukraine and its consequences, as well as restrictive measures in China due to the outbreak of the pandemic. Gold is becoming more expensive, despite the increase in the yields of the U.S. treasuries and the dollar exchange rate. According to Marios Hadjikiriakos, an analyst at the Greek investment company XM, as quoted by Prime news agency with reference to Market Watch, this indicates a high interest in it as a safe asset on the part of investors.