Inês Costa Macedo / Vianouro
The price of gold has been rising in recent months, reaching record levels as investors are looking for safer bets due to uncertainty in financial markets. But is this precious metal really a safe haven?
Gold is traditionally seen as a reliable and tangible assets in times of crisis or financial instability.
In a context of uncertainty in the world economy, aggravated by the recently launched by the president of the United States, Donald Trump, the price of gold A record last week Historical, when overcoming the 3,240 dollars for jaguar and negotiating very close to $ 3,250.
Only in 2025, was the 23rd record beaten By the quotation of this precious metal, note o. And you shouldn’t stop here: UBS recently reviewed its “target” for price over 2025, which now puts us $ 3,500.
Galloping the price of gold in recent years is stunning. At the time of this edition, it is located in 93,674 € / grama. In a research of this quotation conducted by ZAP In October 2021, the gold was worth 40,330 €/g – A valorization of more than 132%, more than doublein just over three years.
But is the gold It’s really a safe haven?
Economic instability usually leads to an increase in the price of gold, note a: When financial markets sinkthere is often a sudden “Golden Race“During which a large number of buyers seek precious metal.
But, after all, Who is buying This gold?
“They can be governments, individual investors or retail investors,” he explains Philip Fliers, Economic historian at the University of Belfast, Northern Ireland, to the BBC. “People are abandoning investments in actions And to migrate to gold – and that really makes prices go up. ”
Traditionally, Gold is the favorite metal when there is uncertainty global in the financial market. By 2020, Covid-19 pandemic caused an economic recession, and gold prices suddenly fired.
However, This uncertainty can also affect gold. In January 2020, when the COVID-19 outbreak came, the price of gold fired-but shortly thereafter, in March of the same year, the quotation of the precious metal It started to fall. “Being a ‘safe’ investment does not mean that you have no risks“, adverte Fliers.
Gold still has reputation to be an investment to which it is used in times of economic uncertainty, Not only because of its valuebut also for the fact that, throughout history and in different cultureshave been highly valued and therefore easily negotiable.
From ancient Egypt to the Golden Throne of Ashanti, Ghana, and the Golden Thrones of the Padmanabhaswamy Temple in India, the metal has historically had a religious and symbolic importance.
It is not surprising that many people see gold as a reliable form of keep your wealth. The value of gold objects and jewelry kept at home usually It is not affected by changes in markets global financial.
But any investment can be vulnerable to the actions of large agents financial. “I suspect that much of the recent increases in gold prices is being driven by the central banks of governmentswho are buying gold, ”says Fliers.
The central banks usually buy gold in large quantities To reinforce their reserves – a way to move away from investments in financial markets in times of uncertainty.
This means that Investing in gold can be dangerous.
“It is a specular risky strategy About the increase in the price of gold because as soon as the markets calm down and governments fall into themselves, people will abandon gold again, ”explains the historian.“ I would say things like investing in gold must be done in the long run“.
As we saw above, between 2021 and 2025 the price of gold more than doubled – and the deadline was not that long.
