The price of gold rose to a new year’s high

The cost of gold yesterday reached a peak value for the year - by the evening the June futures on the Comex exchange were trading at $2055.25 per troy ounce, showing an increase of 1.5%. Expectations that the Fed will soon complete the cycle of key rate hikes contributed to it. The dollar continued to fall against this background, losing 0.56%, which also supported the precious metal - its low rate is more favorable for gold buyers using foreign currency.

According to David Meger, director for trading metals company High Ridge Futures, the words of which are reported by the agency "Prime", for the growth of gold are favorable circumstances given the likelihood of a pause in the U.S. rate hikes by the regulator, on the one hand, and maintain an elevated inflation rate - on the other.

Silver prices also set a high for the year, with May futures adding 1.91% to $25.94 an ounce. Palladium and platinum saw stronger gains of about 4.2% and 3.8%, respectively, in yesterday's trading session.