Gold price reached its maximum in five months during trading 
During trading on the exchange, gold price soared to its maximum value in five months. The price of the precious metal rose to $ 1,868.5 an ounce. Investors are pushing to buy gold by growing inflation, the Wall Street Journal points out.
However, so far, the price of the precious metal is still 10 percent below the record of 2050 per ounce, which was reached in August 2020. The newspaper notes that investors have returned to gold “like an old friend” amid accelerating inflation. At the same time, the demand for the precious metal will continue to grow until global central banks develop measures to contain prices. TIAA Bank President for World Markets Chris Gafney advised investors to increase the share of gold in their portfolios to about 10 percent.
Earlier it became known that the rise in prices in the United States accelerated to a record and became the highest since 1990. Consumer prices in annual terms in October sharply accelerated growth – up to 6.2 percent from 5.4 percent a month earlier. The consumer price index rose 0.9 percent from September, the largest jump in four months. Moreover, both indicators exceeded analysts' forecasts: experts had expected annual inflation at 5.8 percent and 0.6 percent in October.