Gold has reached another all-time high. The price of the August gold contract on the Chicago Mercantile Exchange (CME) during trading on Tuesday, July 16, rose by 1.58% to $2,467.3 per ounce as of 18:23 Moscow time. At the same time, shares of gold mining companies were growing on the Moscow Exchange.
In total, the precious metal has risen in price by almost 20% over the year. The increase in the price of gold was facilitated by significant purchases by major central banks, as well as ongoing geopolitical tensions.