Published
01/31/2025, 12:22For the first time in history, the price of gold exceeded $2 thousand 850 per ounce. The record growth is due to the weakening of the US dollar, which in turn suffers from a slowdown in economic growth.
In the fourth quarter of 2024, US GDP grew by 2.3%, which is below expectations (from 2.6% to 3.1%). This has increased investor fears, weakened the dollar and increased interest in gold. Additionally, the fall of the U.S. currency makes the precious metal more attractive to holders of other currencies.
For Kyrgyzstan, the rise in gold prices is a positive signal. A total inflow of $2 to $2.2 billion is expected in 2025 if gold production remains at last year's levels (26 tonnes).
‘Last year at the end of January, 1 ounce of gold was worth $2,386. As President Sadyr Zhaparov said - ‘those who have money, take gold.’ I think that this year gold will cost more than $3 thousand, so the advice of the head of state is relevant now’, - said the observer - Timur Saralayev.
