Concerns about inflationary pressures have pushed up the price of gold

Gold prices rose in turbulent trading on the last trading day of global markets as worries about rising inflation helped ease the pressure on the dollar to strengthen US Treasury bonds. .

The value of the dollar and the profitability of bonds had risen after the strong US job opportunities report was released.

Gold rose $ 3.43 an ounce in global markets and traded at $ 1808.28. Gold rose 0.8 percent last week.

“We continue to see inflationary pressures in the economy,” said David Meger, head of precious metals trading at High Ridge Futures. “As a result, the Federal Reserve is expected to take action.”

“However, this situation is causing the gold market to be strengthened by those inflationary pressures.”

The unexpected rise in US job growth in January raised concerns about inflation and affected investors’ risk-taking. Statistics show that the number of job opportunities in the non-agricultural sector increased by 467,000 last month.

Gold has always been considered a safe source of investment against inflation, and if interest rates rise, its maintenance costs, which are interest-free assets, will increase.

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