Volatility in the precious metals and currency markets. This is the current situation in the markets
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The situation of gold and silver after a significant correction
Prices on the gold market remain attractive in the long term, even though we are seeing a correction after previous records. The price of an ounce of gold is currently fluctuating within limits approx. $5,050which, when converted into Polish zloty, means prices in the vicinity 17-17.8 thousand zloty.
Volatile prices of precious metals are closely related to global market trends and investor sentiment. After a period of growth impulses, related to, among others, with concerns about inflation and geopolitical tensions, the gold price experienced a short-term correction.
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The situation is slightly less stable silver. Globally, the price of an ounce of silver on spot markets fluctuates around approx. $89–90 per ounce (which translates to approx PLN 318–322 per ounce of silver in Poland). Metal prices are under pressure both corrections after previous increases and volatility of investment demandwhich has been significantly higher in recent months due to its industrial applications and capital security function.
Currencies after the Monetary Policy Council's decision on interest rates
There were minor changes on the currency market in connection with yesterday's decision of the Monetary Policy Council regarding the level of interest rates. Such a decision means maintaining the reference rate at 4.00 percent, the Lombard rate at 4.50 percent and the deposit rate at 3.50 percent. and discount and rediscount rates slightly above 4%. In response to this decision, the zloty strengthened.
Right now the euro remains around PLN 4.21–4.22which means relative stability towards the Polish zloty.
The US dollar fluctuates around PLN 3.57–3.58whereas The British pound is most often quoted above PLN 4.85.
In turn, the Swiss franc exchange rate is around PLN 4.40–4.50which is a moderate position of this currency compared to other major currencies.
