Experts predicted the rise in gold prices to a three-year high


Until the end of September 2016, the international price of gold can rise to $1425 per ounce, that is approximately 4%, informs Bloomberg referring to the forecast of experts of the ABN Amro Group. According to the Agency the rating of the most accurate forecasters of the banking group holds the first place.

Compared to the previous version of the forecast the maximum possible price of an ounce of gold increased ABN Amro for $75. If indeed gold will rise to $1425, it would be the highest price since mid-may 2013.

The sharp rise in gold prices (during yesterday’s trading the value of an ounce rose to $1374, which was the highest since March 17, 2014) at ABN Amro explained by the fact that investors looking for “safe haven” in conditions of uncertainty caused by the outcome of the vote for Brexit.

Experts admit that in the end of 2016 and early 2017, the price of gold can decrease, however, in their opinion, it will be an additional incentive for shopping.

At the end of June 2016, investor Jim Rogers said that after the referendum on Brexit gold prices rose too high and by the end of the year should fall.

“I don’t like to buy anything so quickly rose. As a refuge I would have preferred gold dollars. I can’t be optimistic when something is growing too fast. With the dollar not, and history has often happened that, when the dollar rose, gold became cheaper,” explained Rogers.

During today’s trading value of an ounce of gold around $1370.

The Bank of Russia for January—may 2016 purchased to replenish its reserves 66,9 tons of gold, one and a half times the volume of purchases of the precious metal in the first quarter of 2015 (42,7 tons), it follows from the statistics published by the world gold Council (VSS). The total volume of gold purchases of the Central Bank of the Russian Federation in the first quarter of 2016 was the largest among all considered VSS countries.