2023-10-23 14:33:16
There was the instability caused by the war in Ukraine. This was without counting the terrorist attack carried out by Hamas in Israel on October 7, which has since shaken part of the world stage.
In these times of uncertainty, gold is often considered a safe haven for savers. Is now the right time to invest in this precious metal? We take stock with Daniel Moulin, a gold merchant in Paris for thirty years for Maison Joubert.
How has the gold market evolved in recent weeks?
It has increased over the past fortnight. For people, it is not a profitable investment, but rather security for their assets. When there are major events, the value of gold increases. [L’once, qui s’échangeait à 1.730 euros le 7 octobre, a grimpé à 1.880 euros le 20. Elle était ce lundi à 1.867 euros*]
The latest events have therefore played a role…
Without hesitation, yes. As we have seen, the value of gold has increased since October 7. Tensions in the Middle East are pushing investors to turn to this precious metal. This had already been the case during the war in Ukraine. At the start of the Russian offensive, a kilo of gold had risen to 61,000 euros; it is now worth around 54,000 euros.
People who invest in gold are generally worried people, who follow the latest news in the media. Major investments in gold date back to the stock market crisis of 2008, in a very fragile economic context. It was a way for them to protect themselves. It’s always like that. In times of uncertainty, gold has that shimmering aura of a solid rock to lean on.
Is now the right time to invest?
As a gold dealer, we have no control over what may or may not happen in the world, or how high gold may rise.
One thing is certain, everyone can invest, regardless of their budget. It is entirely possible that the value of gold will continue to rise. Imagine, for example, that Iran enters the conflict…
* According to data from Aucoffre.com
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