Gold prices began to plummet after skyrocketing

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The price of gold plummeted in trading on the New York Stock Exchange Comex, according to its reports. As of 21.50 Moscow time on August 11, the price of the October gold futures fell by 5.08%, or $ 103.05, to $ 1,927.3 per troy ounce.

Minutes earlier, gold had dropped to $ 1,921.65, the lowest since July 28.

On the Moscow Exchange, the price of the metal also fell. Shares of the Polyus company lost 4.86% during the day, at the close of trading they were at the level of 17,890 rubles. Petropavlovsk securities fell in price by as much as 7.93% – to 30.2 rubles.

Earlier, at the beginning of the month, gold broke its historical record for price several times. As of August 4, the price of October futures on the New York Comex stock exchange reached $ 2,000.65 per troy ounce. In 2020, the value of gold as a whole has increased by 30%. The rise comes amid ongoing concerns about the economic impact of the coronavirus pandemic.

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