Gold

It is not only oil and gas markets that are feverish amid the deepening crisis in the Middle East due to the US-Israeli war against Iran. The Russian Central Bank’s gold reserves last month fell to a four-year low of 74.3 million troy ounces, the lowest since April 2022, when 74.1 million remained in reserve.

By the end of the current week gold in bullion was sold at about $4685 per ounce. That is, the price fell by about 7% during the week. The sharp rise in oil, natural gas and fuel prices caused by the conflict in the Middle East increases inflationary concerns and makes it less likely that central banks will reduce the cost of borrowing. This has a negative impact on gold as it does not earn interest income.

Financial markets in the UAE have temporarily suspended operations amid a sharp aggravation of the situation in the region. The decision was taken to protect investors and stabilize the financial system.

Moldovan customs officers of the Leuseni customs point stopped an attempt to smuggle seven gold bars from Romania into Moldova, Logos Press reports.

In 2020-25, the 15 largest buyers of gold increased their official reserves of this asset by almost 2 thousand tons. During this period, the price of gold increased by more than 230%, according to Logos Press.