Gold prices have hit new highs and continue to rise
Prices for scrap gold and bank gold have been updated in Ukraine, and now the cost depends on the fineness and global market fluctuations, which are driven by instability and global economic events. At the same time, gold prices on global exchanges have risen again, which has automatically pushed up local prices as well.
Gold prices have “jumped” again, and this was immediately felt by both the markets and those dealing with precious metals in Ukraine, as even scrap gold is now valued significantly higher than before. The main factors determining the price remain the fineness and the situation on global exchanges, where gold traditionally reacts to any instability.
According to the NBU, as of June 2, the price per gram of gold scrap is as follows: 333 fineness — 2,095.01 hryvnia, 375 — 2,359.25 hryvnia, 500 — 3,145.67 hryvnia, 583 — 3,667.85 hryvnia, 585 — 3,680.43 hryvnia, 750 — 4,718.50 hryvnia, 900 — 5,662.20 hryvnia, and 999 fineness, i.e., nearly pure gold, costs 6,285.04 hryvnia per gram.
Bank gold is valued even more precisely and at a higher price, as quality standards and the degree of metal processing are taken into account: gold of the highest category currently costs 6,354.88 hryvnia per gram, metal that needs to be brought up to standards costs 6,335.82 hryvnia, and that which does not meet the requirements for bank-grade metals costs 6,291.33 hryvnia per gram.
Gold also showed growth on the global market: the price rose by 0.5% to $4,504.36 per ounce, driven by increased investor attention to the ongoing instability in the Middle East, as well as new economic data from the U.S., which influenced market expectations and spurred demand for “safe havens” in the form of precious metals. This was reported by the National Bank.
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