Commodities: Gold price is approaching $ 1900
Frankfurt Gold is getting more and more expensive. The price of an ounce on Thursday was around $ 1,868. Most recently, the precious metal exceeded the $ 1,900 mark in early June. According to experts, gold still offers the potential for further price increases.
The most recent increase is a consequence of rising inflation in the US. In October, US consumer prices rose 6.2 percent compared to the same month last year. That is the highest level since 1990. The gold price reacts to the falling real interest rates since the middle of last week, that is, the bond rates minus the inflation expectations.
Neither the US Federal Reserve nor the European Central Bank had sent out any further signals for a stricter monetary policy or for interest rate hikes. Gold thus seems attractive as a safe haven and protection against inflation.