Zurich (awp) – The price of an ounce of gold returned to the $2,700 mark on Monday, after a slump at the end of last week, while Donald Trump was sworn in in Washington as the 47th President of the United States. United.
Around 6 p.m., the price of the precious metal rose by 0.26% to $2,708.08 per ounce, still far from the $2,790 reached at the end of October in the final days of the American presidential campaign.
Regarding the 47th President of the United States, experts from the Trade Economics platform emphasize that “his proposals for customs tariffs risk fueling renewed inflation and triggering trade conflicts, likely to strengthen the attractiveness of gold as insurance against rising prices.
A study from the University of Basel published in 2023 demonstrated that central banks tend to increase their gold reserves by 15% on average during major geopolitical crises, recalls Arthur Jurus, investment director at Oddo BHF Switzerland, referring to the war in Ukraine and the trade frictions between the Middle Kingdom and Uncle Sam’s country.
The easing of tensions in the Middle East, on the other hand, should attenuate the demand for safe haven assets, with the exchange of hostages and prisoners between Hamas and Israel marking the start of a ceasefire after 15 months of war, observes Trade Economics.
-Jewelry, which represents around half of global demand, is experiencing particularly strong demand in India and China, when technological applications of the yellow metal are expected to increase by 12% per year by 2026, according to a Hong Kong academic study. continues Mr. Jurus.
“Gold remains a central asset in a diversified portfolio, offering a unique balance between yield and stability,” concludes Arthur Jurus.
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