“80,000 euros per kg. NEW RECORD FOR GOLD PRICE. + 85% in 5 years.” The Or en Cash company wastes no time on the home page of its website and immediately offers an appointment in one of its agencies. There are more than a hundred of them in France, from Beaune to Bourg-en-Bresse, from Saint-Étienne to Saint-Bonnet-de-Mure, etc. The company, created in 2009 near Lyon by Christophe Gerber, claims in 2024 the position of number 1 in the purchase of precious metals.
Other companies, such as Godot & Fils, founded in 1933, share the French precious metals trading market. Based in Paris, it has been increasing the number of branch openings since 2020, such as in Dijon.
A safe haven
The price of gold has doubled since 2019, with an acceleration since 2023, analyzes the Banque de France. It is she who holds and manages the state's gold reserves. This is even one of its fundamental missions. Why does gold burn? “This progression is paradoxical when the rise in real interest rates, the deceleration of inflation and a strong dollar should have favored a decline. Gold purchases by emerging central banks but also by individual investors supported demand, explaining the rise in prices, in a context of high and persistent geopolitical tensions,” indicates a note from the financial institution posted online this month. of September.
The Banque de France does not carry out gold trading activities with individuals. She specifies that for them, purchases and sales of gold can be done with banks having a trading department, with traders specializing in this trading or at auctions. Gold sales are subject to special taxation.
The surge in prices therefore stimulates the market, in particular the offer of services to individuals, who see this as an opportunity to make profits. This Tuesday is the file of our economic supplement.
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