Gold rises above $4,000 an ounce for the first time

The price of gold on world markets has exceeded 4,000 dollars per troy ounce for the first time. Since the start of the year the precious metal has risen by more than 50%.

Analysts attribute the rise to demand for safe-haven assets amid trade conflicts, geopolitical tension and expectations of rate cuts by the US Federal Reserve. Central banks are also buying gold actively.

An additional factor is the partial shutdown of the US government, which is delaying the publication of important economic statistics.

The rise in gold prices is also felt in Armenia: jewellery has become more expensive, and gold accounts for a notable share of Armenian exports.