Gold reaches record levels, arousing the interest of the French.

Although it is not yet a gold rush, many customers are visiting specialized shops for information. Investors prefer gold in times of crisis, as it is a safe haven and the fragility of financial markets. Troubles of some banks has reinforced this trend.

The price of gold has been steadily increasing since 2019, with peaks in 2020 and February 2022 due to the Covid crisis and the war in Ukraine. In November 2022, gold experienced a new 20% increase due to the energy crisis and rampant inflation.

Over the last six months, the price of gold has risen to around 2,000 euros per ounce. This trend has sparked great interest among the French, who bought over five tons of gold coins and bars in 2022. However, in the long term, uncertainties remain and the value of gold will depend on future geopolitical and economic events.

Natixis and Citi Bank predict that the average price of gold in 2023 will be between $1,830 and $1,900 per ounce on average, and could reach $2,000 in 2024. Although investing in gold does not generate income, some investors prefer to consider it as a safe option in times of uncertainty in financial markets.

By Alexandre Laurent

Alexandre Laurentl is working in the jewelry and investment gold since 2002. Alexandre graduated from The Normandy School of Business and from the University of Perpignan a Bachelor of economics in 1995.

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