Gold rose in price in May by 7.8%
In the first months of this year, the price of Gold declined. However, in May, the precious metal almost managed to recoup the losses. This was facilitated by the acceleration of inflation, as well as the uneven recovery of the economy in different countries. Analysts believe that the rate of growth in the price of Gold in May may be a record for the period since July last year. Bloomberg notes that recently there has been an increase in interest in Gold from investors. The outgoing month was favorable for the market of this precious metal. The demand for it has increased due to the influence of a number of factors. Among them: the weakening of the Dollar, the fall in the yield of US government bonds, as well as an unexpectedly sharp increase in consumer prices in the country. In the near future, the dynamics of Gold prices will depend on the statistics that will be released in the United States. At the end of this week, data on the country's labor market for May will be published. They will allow us to assess the stability of the weak statistics for April. Experts believe that if the deterioration of the situation in the US labor market is confirmed on Friday,then a troy ounce of Gold may rise to $ 1,975.