Demand from private investors is booming, but professional investors are holding back.
(Photo: Reuters)
Zurich Jerome Powell, the head of the US Federal Reserve, has declared war on inflation – causing turmoil in the gold market. On the one hand there are the professional investors who sell gold on a large scale and cause prices to fall. On the other hand, there are private investors who continue to diligently buy bars and coins.
Who has the better instinct in the end? In any case, the price of gold is going downhill at the moment. Gold slipped below $1,800 an ounce on Thursday night. The course was at this level on Friday evening as well.
The precious metal has thus given up all of its profits since the beginning of the year. The prospect that the Fed could raise interest rates five times by the end of 2022 is causing uncertainty. Above all, professional investors in the USA are throwing their shares in physically backed gold index funds onto the market.
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