The precious yellow metal touched $2,000 an ounce on Monday morning, close to its August 2020 record.
Gold lives up to its reputation as an anti-crisis asset. Against the backdrop of the war in Ukraine, and the return of inflation, the precious yellow metal saw its price soar beyond 2,000 dollars an ounce on Monday morning, before falling back below this symbolic threshold. The increase is 11% since the beginning of February. Gold had not reached this level since August 2020.
This surge in prices, linked to massive purchases by institutional investors and individuals, is hardly a surprise. “Geopolitical risks and inflation are usually the two drivers of rising prices”, underlines Alexandre Baradez, head of market analysis at IG. It is also part of a general surge in the prices of raw materials – oil, wheat, metals. “Volatility is absolutely crazy right now. This is a sign of a somewhat lost market”underlines Arnaud du Plessis, gold specialist at CPR AM.
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The qualities of gold in times of crisis are well known. It is a tangible asset, which cannot go bankrupt…
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