|Highest price USD/oz||1,357.20||
|Lowest price USD/oz||1,302.89||16.105||932.00||948.00|
of additional three metals observed, the maximum at the end of the month and the minimum at the beginning
of the month. Gold responded most to the FED decision on increasing interest rates.
of the development of the US economy sounded optimistic, however, this optimism did not reflected in the number of expected increases of rates. In 2018, FED expects only three increases, including the one in March. After this announcement, analysts immediately started to speculate regarding the reason of this careful procedure. The most of them have agreed that the main reason is the fear of business war between China and USA. Ironically, the fear of introducing customs and other protection measures can harm the US economy more than benefit it. Therefore, after the press conference of the new president of FED, Jerome Powell, the gold, insurance against uncertainty, started to grow, and the US bonds started to fall. The price of gold reached the limit of 1,350 USD per ounce. Our assumption of the mild correction and suitable moment
of purchase before the FED meeting came true.
We recommend to keep the metal and eventually to regularly purchase in smaller amounts.
to the territory of Hungary. It concerns 3 tons of gold which are all gold reserves owned by Hungary. The National Bank of Hungary follows the Bank of Netherlands as well as the German Central Bank that announced the move
of their gold reserves to their territory formerly. Central banks have bought more than 2,700 tonnes for the last three years. They keep more than 33,600 tons in their reserves, i.e. a fifth of all the gold mined. The interest
in gold is so big that Canada has doubled its mining. The only central banks which decrease their gold reserves are the banks of Venezuela, Laos, Egypt as well as the Czech Republic.
Chief Executive Officer of IBIS InGold®, a. s.