Gold without brakes, but the buyer is anonymous

Anyone who wants to buy a gold jewel, or sell it, be careful: the price of the yellow metal has broken all records and who knows how much longer it will continue to rise. But why has the price of gold exceeded 2,400 dollars per ounce, a measurement which is equivalent to 31.1 grams? The reasons are different. The one considered main by market operators concerns the geopolitical situation, between the invasion of Ukraine and Gaza, without forgetting the Chinese pressure on Taiwan: gold is the safe haven par excellence, which is accumulated when the winds of war blow. But not only. The price of gold is also linked to other factors. To the demand for gold for jewelery (decreased by 2%), but also to its use as a raw material for industry (increased by 10%), for example for the world of electronics (computers and tablets can contain small metal components yellow).

Furthermore, purchasing by central banks has continued for some time, accumulating gold reserves because they fear difficult scenarios in the near future. However, according to some analysts, all this would not be enough to justify the surge in prices. There are also those who point the finger at mysterious, faceless buyers who are hoarding gold on the market. According to one analysis, purchases by anonymous buyers were the real drivers of the record. Indeed, without these secret purchases, the demand for gold for investment would have collapsed, causing a drop of 5%. These purchases are anonymous also because they do not pass through regulated markets. These are transactions technically defined as OTC, over the counter, between two private entities, which thus guarantee absolute anonymity.

According to the World Gold Council, anonymous people bought 136 tons of gold in the first three months of 2024, about 11% of total demand. In particular, the purchases would have been concentrated on the Asian far market, i.e. China, but also Turkey and India.