Gold rose to its highest level in nine years, which will affect the price

The cost of the metal closer to the historical record

Gold for the auction environment has risen to the highest since August 2011 amid growing tensions between Washington and Beijing. Recently, the gold price rose to a high of over eight years.

So, the price of gold futures on 22 July with delivery in August has grown on Comex trades 1.2%, to 1865,1 dollars per ounce. The historical record of gold price was recorded on 22 August 2011 – 1891,9 dollars per ounce.

Silver at the end of trading on July 22 rose to a seven-year high, Interfax reported. Quotes the September silver futures on the new York Mercantile exchange (NYMEX) jumped 7.4 percent to the highest since September 2013 23,144 USD per ounce.

As you know, gold is considered the most reliable asset, the demand for which increases during crises and geopolitical instability.

Recall, the US authorities ordered to close the Consulate of China in Houston (Texas). Beijing has threatened to respond to these actions of the American side. President Donald trump made that can close any other Chinese diplomatic missions.