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Futures contracts on gold traded in New York have increased by approximately 71% since the beginning of the year, on track to record the largest annual increase since 1979.
The precious metal is perceived as a resilient investment, capable of maintaining its value during periods of crisis, high inflation, or currency depreciation. A classic disadvantage of gold is the lack of a return in the form of interest, unlike bonds.
At the beginning of the year, gold was trading around $2,640 per troy ounce. On Monday, the price surpassed the record threshold of $4,500 per ounce. Analysts at JPMorgan Chase estimate that gold could exceed $5,000 per ounce by 2026.