Gold shines with all its fires. For the first time in its history, the precious metal on Tuesday crossed the symbolic milestone of 2000 dollars per ounce of 31 grams. On Wednesday, it held above that long-coveted threshold and traded late in the day at $ 2,040. Since January 1, gold has gained 34%, making it one of the highest-paying investments of 2020. By comparison, over the same period, the CAC 40 has lost 17.6%.
Read also: Why is gold soaring?
Since the start of the pandemic, gold has regained its safe haven clothes in the eyes of investors worried about the consequences of Covid-19 on global growth. "At the moment it is above all the historic contraction in US 10-year interest rates, which corrected for inflation are negative (at -1%), which has driven up gold prices," explains Arnaud du Plessis, fund manager at CPR AM, an Amundi subsidiary. We have to go back in 2011 and 2012 to find such levels across the Atlantic. ”
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