According to the expert, in the short term, the cost of gold may decline. “The gold market did react by rising to over $3,430 per ounce on the evening of May 6, when news of the strikes began to emerge. At this point, judging by the market reaction, a sharp further price rise is unlikely. Right now, on the contrary, a decline is underway. If the price falls below 3340 dollars, most likely, the decline will continue to 3300 dollars,” said the expert.
At the same time, in the long term Kirill Chernovol expects moderate growth in the price of gold, which will depend on the decision of the Board of Governors of the Federal Reserve Board on the target interest rate in the United States. “Keeping the rate will support moderate growth to about 3430–3450 dollars per ounce in the coming days, a sharp decline could trigger growth to 3500 dollars and higher,” the expert emphasized.