The price of gold fell below $ 1,250 an ounce

Today, the price of gold fell during the trading session below the psychologically important mark of $ 1,250 per ounce, as investors decided to take profits after the rise of quotations in recent years, according to MarketWatch.

The April contract fell by 0.5% - to $ 1248.3 per ounce. According to the results of last week, the precious metal lost 0.4%, ending in the red the first week of the last five.

"Lingering concerns about slowing global economic growth and careful assessment by the central banks continue to stimulate investor appetite for "safe havens"Such as gold, which find support near $ 1225 per ounce"- Analyst FXTM Otunuga Lukman said.

He believes that the decline in interest rates rise expectations in the United States should lead to an increase in the price of gold to $ 1,300 an ounce, especially the weakening of the US dollar will continue.