Another record for gold. What’s happening?

What’s happening now? Those who have gold jewelry can rejoice: the yellow metal has broken all records to touch (for the moment) 2,580 dollars an ounce on the New York price list. Few had predicted such a run for gold, which usually soars when war scenarios or international tensions arise. Which, in fact, exist, but no more than ten months ago. How high can the price of gold go? According to the large US investment bank Goldman Sachs (report entitled Go for Gold) the metal will rise to 2,700 dollars an ounce in the space of three months. Not only that: another analysis center, that of the giant Bofa Global Research, does not exclude the possibility that gold could touch 3 thousand dollars an ounce. It is not certain that the forecast will be respected, but it gives an idea of ​​what operators in the sector expect.

Furthermore, the increase in the price of gold came after the Chinese Central Bank, which for a year and a half purchased a large quantity of the yellow metal, stopped shopping in May. And the purchases by China and other central banks were one of the factors that pushed the value of the quotation ever higher. However, the factors that, according to analysts, are pushing the price of gold are others. For example, the trend of decreasing interest rates is seen as a factor that can further push the prices of the metal. Not to mention that geopolitical tensions (Ukraine, Gaza) can explode at any moment.

So is a further rise certain? In the field of financial investments, nothing is certain. For example, those who bought gold at 1,600 dollars at the beginning of 2020, but also those who bought it just a year ago, could today want to monetize the investment and sell the securities linked to the metal. And in this way, bring down the prices. And if winds of peace were to begin blowing internationally, the decline of gold would be almost immediate. Certainly, the increase in price will affect not only investments, but also the jewelry market, with strong increases for all those precious items made mainly in the metal most loved by women (and not only).