(BFM Stock Exchange) – Precious metal exceeded this symbolic threshold this Friday, March 14, carried in particular by geopolitical tensions.

The inexorable ascent of gold continues. The precious metal exceeded this Friday, March 14, the symbolic milestone of 3,000 dollars on Friday at the end of the morning.

The “barbaric relic”, as the economist John Maynard Keynes was nicknamed at 3,003.24 around 11:20 am.

Since the beginning of the year, gold has been 14.1%, surpassing the equity markets (in comparison, CAC 40 takes 8.3%by far).

Purchases of central banks

Gold has been climbing for more than a year almost continuously. The raw material was supported by a conjunction of factors, in particular the purchases of gold on the part of the large power stations of emerging countries, such as China and Poland.

“At first, this trend had been motivated by the concerns of countries concerning sanctions on their foreign assets following the decisions of the United States and Europe to freeze Russian assets. However, this trend has turned into a wider strategy of diversification of dollars and dollars assets,” UBS underlined in February.

Economic and geopolitical uncertainties have also supported gold courses, especially in recent weeks. Donald Trump Chaotic’s policy on customs duties and diplomatic relations have strengthened its appeal.

“The demand for the precious metal remains strong, the traders continuing to favor its appeal of refuge. Donald Trump’s aggressive tariff policy weighs on economic prospects, reducing growth forecasts and losing pressure on risk assets such as actions, the main clues (American, editor’s note) having erased their post-elections post-elections, “notes Ricardo Evangelista, of Activtrades, in a note published this Friday.

Still potential

“At the same time, data on weaker than expected American inflation, published at the start of the week, report a slowdown in the growth of the world’s greatest economy, which fuels the expectations of new reductions in the rate of the American federal reserve,” he adds.

As a reminder, lower rates tend to support gold. Unlike actions (with dividends) and obligations (with coupons), gold does not produce income. Its course is therefore helped by a decrease in interest rates, because it then becomes more and more interesting to invest your money in gold rather than placing it.

For the rest, the design offices are optimistic about the evolution of gold prices.

In February, Bank of America noted that the rise in gold was mainly carried by the purchases of central banks.

“Worried about the American budget deficit, commercial conflicts, wars, sanctions and asset gels, central banks and other investors have pushed gold prices in cash at a record level,” she explained.

His forecast models show that gold could reach $ 3.500 an ounce, if investment demand (therefore other than central banks) increased by 10%.

“It’s a lot, but it’s not impossible,” concluded Bank of America. The establishment quoted the initiative of China to allow insurers to invest in gold which could create 300 tonnes of additional demand, which is equivalent to 6.5% of the world annual market.

In February, Goldman Sachs had noted his goal at the end of 2025 on gold at 3.100 dollars against 2,890 dollars previously. The American bank justified this objective by the fact that central banks alone would carry 9% gold prices with their purchases while demand for index (ETF) funds would resume.