Inês Costa Macedo / Vianouro
The weakness of the dollar and the geopolitical context keeps the gold on the rise. Historical maximum of 3,945 dollars per jaguar reflects uncertainty in the world.
Gold, an asset of refuge for investors in times of uncertaintythis Monday reached a new historical maximum, approaching the $ 3,945 per jaguar, which is equivalent to about 3,382 euros.
According to Bloomberg data compiled by EFE agency, at 7:06 am (06: 06h in Lisbon), yellow metal reached a new maximum, It is located at 3,944.73 dollars, surpassing the previous previous maxim, reached on Thursday, of 3,896.85 dollars.
At 07: 45h (06:45 in Lisbon), gold climbed with less strength (1.06%) and Distance-se momentarily of its maximums, being located in the 3,931.83 dollars.
Galloping the price of gold in recent years is stunning. At the time of this edition, AORP’s reference value is located in 111,224 € / grama.
In a research of this quotation conducted by ZAP in April, this quotation was located in the 93,674 € / gramaan appreciation of almost 19% in just 6 months. In October 2021, the gold was worth 40,330 €/g – an appreciation of more than 175%, almost triplein three years.
Massive purchases by central banks, the weakness of the dollar and the geopolitical context are boosting the climb of gold, which valued almost 50% this year, justify the experts.
At the end of August, Zap reported that the value of gold as a safer bet in times of turbulence , Due to the fading of the effect of Porto-Seguro do Ouro.
However, the climb of the value of this precious metal does not cease. Will gold its place guaranteed as the refuge in times of uncertainty?
Why is there a gold search?
One of the main reasons for the popularity of gold is that it is considered a Value reserve. This means that gold increases with inflation and keeps its value in the long run.
In other words, a golden jaguar today buys the same cabaz of goods (or more) than 20 years ago. The same is not true of money (or fiduciary currency), such as the US dollar or the Australian dollar.
Since gold maintains its value, it is also designated by inflation protection.
Although reserve ownership remains in the long run, there is another important property that is more ephemeral and particularly relevant during crisis periods.
GOLD: THE SAFE PORTO
Our pricesThe increase when investors seek shelter in response to a shock or crisis. For example, investors bought gold in reaction from the terrorist attacks of September 11, 2001the beginning of the world financial crisis in 2008 and the COVID outbreak in 2020.
Ukraine’s invasion of Russia in February 2022 and subsequent sanctions against Russia showed the risk to governments of lose access to foreign currency.
Apparently, some governments or central banks have reacted to this with an increase in gold purchases. This has led to a maximum history of 1 082 tons of gold shopping by the central banks in 2022.
In 2023, the second highest annual purchase in history was registered, with 1 051 tons, followed by
But in contrast to the shock caused by the Russian invasion of Ukraine, the latest increase in gold prices is harder to associate with a single shock.
