In which direction is the gold price developing?

gold nugget

Many financial experts think the recent sell-off in gold is overdone.

(Photo: imago images/agefotostock)

Zurich Despite all the crises in the world, gold, the classic safe haven currency, is currently having a hard time. As of this Thursday, the price has fallen to $1662, its lowest level since April 2020. It is a “tug of war” going on in the gold market right now. At least that’s how the commodity experts at the investment bank RBC Capital Markets see it.

On the one hand, the prospect of further increases in interest rates is putting pressure on investor demand. On the other hand, given the energy crisis, recession concerns and the war in Ukraine, gold could be in demand again at any time as a “safe haven”. “The result is a sideways movement,” observes RBC strategist Christopher Louney. Since mid-July, the price of the precious metal has fluctuated between $1,700 and $1,800 per troy ounce (around 31.1 grams).

Read on now

Get access to this and every other article in the

Web and in our app free of charge for 4 weeks.

Continue

Read on now

Get access to this and every other article in the

Web and in our app free of charge for 4 weeks.

Continue

source site-14