Gold has started to grow steadily

On Thursday evening, the price of gold increased its growth amid an increase in demand for this asset as an inflation hedge. The current quote of the precious metal is $1865 per troy ounce.

Market participants continue to win back the inflation statistics of the United States, which turned out to be a record for more than the last 30 years. The annual growth of consumer prices in the country by the end of October amounted to 6.2%. Immediately after the publication of these data, the value of gold increased by almost 1%.

Analysts suggest that if the price holds at about $ 1,850 per ounce this week, a new influx of investors will appear, as a result of which the next target may be the level of $ 1,900.

However, on the other hand, if, in conditions of high inflation, the monetary policy of the US Federal Reserve System becomes more hawkish (which will support the dollar), then pressure on the quotations of commodities and gold will become inevitable.