For the past few days, the fever that had gripped gold prices has subsided a little.
To leave better?
The "barbarian relic" has indeed experienced a sudden and unexpected outbreak.
The rise started at the end of September.
Gold prices jumped more than 20% to peak at nearly $1,950 an ounce in early February.
At this rate, the historic record, reached on March 8, at just over 2070 dollars an ounce, could be quickly beaten.
The prices of this traditional safe haven were literally carried away after the invasion of Ukraine by Russia, just a year ago.
They had then quickly retreated towards 1600 dollars, a floor reached at the end of September.
According to a well-rehearsed mechanism, soaring interest rates and the rise of the dollar have turned buyers away.
“The yellow metal brings in nothing, neither dividends, nor rents, nor coupons;
when real rates rise, he is at a disadvantage”,
explains Fabien Benchetrit…
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