Gold price reaches record high: investors rely on safe ports!

Gold price reaches record high: investors rely on safe ports!

London, Vereinigtes Königreich - The gold price is currently experiencing a spectacular rally and continues its record hunting. On Wednesday, the price for a troy ounce of gold rose to an impressive $ 2,870.12, which marks the highest level ever. In this price increase, dealers see a reaction to increasing uncertainties regarding US trade policy and geopolitical tensions. As oe24.at , the gold price has increased by over nine percent this year and has even increased by around 75 percent since autumn 2022.

increasing demand and central actors

The demand for gold achieved a record level of 4,974 tons last year, as the World Gold Council found in its Gold Demand Trends Report. The total value of the demand was breathtaking $ 382 billion. A main driver behind this increase are the central banks and investors who continue to invest strongly in gold, such as nau.ch . Emerging countries in particular have increased their gold purchases to over 1,045 tons, which corresponds to over 1,000 tons in a row.

In the second half of 2024, there was also a significant increase in investment demand, in particular through stock exchange-traded funds (gold ETFs), which increased the demand by 25 percent to a total of 1,180 tons. The technology sector also shows a revived demand for gold that rose to 84 tons in the fourth quarter. The physical demand remained constant, while the demand for jewelry due to the high prices decreased by 11 percent to 1,877 tons, particularly strong in China. Analysts expect gold to remain in demand as a popular value preservation means due to the current geopolitical and economic uncertainties.