(BFM Stock Exchange) – The precious metal exceeded this symbolic threshold for the first time this Tuesday, October 7. The raw material has known for almost two years now a powerful flight, carried by geopolitical uncertainties.
Gold continues its inexorable ascent. The “barbaric relic” as the economist John Maynard Keynes exceeded her on Tuesday, October 7, the 4,000 dollars mark on Tuesday, October 7 for the first time in her history.
More precisely, it was the golden contracts on gold that exceeded $ 4,000 per ounce (the deadline of December to be precise). The Spot Cours (cash) has reached him a peak of $ 3,985 an ounce, according to CNBC.
The gold had already crossed $ 3,000 on the ounce last March after having broken the threshold of $ 2,000 in 2020.
A set of factors bear the raw material. Economic and geopolitical uncertainty, amplified by customs measures of the American administration, has strengthened the role of traditional gold refuge value.
More recently, the start of the cycle of rate drops in the American Federal Reserve (Fed) has further strengthened the attraction of metal.
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Dollar drop helps
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.
The weakness of the dollar, which has suffered from other global currencies since the beginning of the year, is another factor of technical support.
Like all raw materials, gold courses are labeled in dollar. A decline in the greenback makes, all other things being equal, the gold less expensive for investors whose reference currency is not the dollar.
Purchases of central banks are also long -term support for gold courses. In a recent survey by World Gold Council, 43% of the central bankers interviewed said that their own central bank would increase their gold and 95% reserves that the official gold reserves would continue to increase over the next 12 months.
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