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The gold price reaches a maximum of 6 years, while the dollar weakens



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Gold has scored his best week in three years and his best value in almost six, increasing by $ 80 its offer only in recent days and over $ 1,400 per ounce for the first time since September 2013.

Analytically, spot gold rose by more than 1.5% to reach $ 1,410.78, a price that by 3:05 GMT had fallen by four dollars.

This upward trend was accompanied by a weakening the dollar, Which has sunk in front of a series of currencies in the pessimistic expectation that the Federal Reserve. interest rate cuts.

Both phenomena are interrelated: As the price of precious metal is in dollars, when the US currency falls, gold is cheaper for those who buy it in other currencies and, as such, may increase demand.

As reported by Reuters, current tensions in Middle East also contributed to raising the price of precious metal by 5% during the week and by almost 10% so far this year.

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