GOLD IS ON THE ROAD AGAIN
We summarize the first quarter of this year 2023 starting with a 5% rise in gold during the month of January, then it corrected that 5% downwards in February and ends in March boosting up to 10%. The reasons are diverse, but we will mention those that we believe have been most decisive.
- Inflation, although it is decelerating, has not subsided yet and the loss of purchasing power due to the gradual loss of value of money encourages the purchase of gold by financial institutions, companies and individuals to take refuge.
- The financial sector, renowned banks such as Silicon Valley Bank and Signature Bank have collapsed in a few days and that is due to the rise in rates, since lending money is now considerably more expensive, which leads consumers and companies to be more reluctant to finance themselves, affecting the income of the banks. Added to the global economic and political instability that causes investors to liquidate their positions or deposits to more conservative options, including gold, it becomes a scenario that still worries investors more and more.
If you want to be up-to-date with the gold situation, visit our gold price frequently or call us directly to obtain more information without any commitment and we will solve all the doubts you may have.
A cordial greeting!