2024-03-18 12:26:00
Pair Jorge Carasso
Published yesterday at 4:35 p.m., Updated 1 hour ago
On March 11, the precious metal reached its all-time high of $2,195 per ounce. kai / stock.adobe.com
DECRYPTION – The precious metal has benefited for several months from the appetite of central banks, and now from expectations of a rate cut.
Gold shines brightly. And above all, it does not seem to want to come down from its cloud, around 2100 dollars per ounce (31 grams), on which it has been floating since December. It even reached $2,195 in recent days, its absolute record. This vigor is surprising. The price of this safe haven has a habit of soaring during major geopolitical crises – invasion of Ukraine in 2022, October 7 attacks in Israel – or when the stock market collapses – subprime crisis in 2008, Covid in 2020, bankruptcies of American banks in 2023. However, nothing like this in recent days… On the contrary, the Paris Stock Exchange, boosted by the good results of French companies, has also been setting records since it crossed the symbolic threshold 8000 points on March 7. And across the Atlantic, the Nasdaq as well as the S&P 500 are sailing at heights not seen for weeks, despite a slight decline in recent days.
Main explanation of this euphoria which sets us on fire…
This article is reserved for subscribers. You have 85% left to discover.
Flash sale
€4.49/month for 12 months
Already subscribed? Log in
#gold #fever #takes #hold #markets #subside