The Limited Times

Now you can see non-English news...

Inflation, concern about the soundness of banks... is it time to rush into gold?

2023-03-29T05:36:58.719Z


OUR ADVICE - Against the background of the banking crisis, the price of the yellow metal is back to its peaks, around 1850 euros per ounce.


Due to the banking crisis, gold is once again putting on its safe haven clothes.

It flirts again with 1,950 dollars an ounce (1,850 euros), a high level after having exceeded 2,000 dollars on March 24.

It had not approached these thresholds since August 2020, in the midst of the Covid pandemic, and in March 2022 when the war in Ukraine broke out.


According to the World Gold Council, the French bought 5.6 tonnes of coins and ingots in 2022. The highest since 2011, the year of the Greek debt crisis which posed the risk of a dislocation of the euro.

Galloping inflation, rising interest rates and now worries about the banking system will give it powerful springs for some time to come.

Read alsoBanking crisis: are your accounts and passbooks in danger?

In recent days, the bankruptcy of the American bank SVB, and the stock market collapse of Credit Suisse have propelled the precious yellow metal to new heights.

“The price follows the news,

recalls Jean-François Faure, head of Or en cash, a purchase and sale site on the internet.

It soared when the announcement of SVB's default, then again when the Swiss credit course collapsed

.

Over six months, gold has gained almost 18%.


Should we rush to buy it now when its price is not far from its peaks?

Maybe not right away, because this one…

This article is for subscribers only.

You have 66% left to discover.

Want to read more?

Unlock all items immediately.

Without engagement.

TEST FOR €0.99

Already subscribed?

Login

Source: lefigaro

All life articles on 2023-03-29

You may like

News/Politics 2023-04-05T08:31:59.238Z
News/Politics 2023-04-03T15:54:52.616Z
Business 2023-05-08T04:41:14.121Z
News/Politics 2023-02-09T09:56:47.041Z

Trends 24h

Life/Entertain 2023-06-01T21:31:41.063Z

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.