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The price of gold is breaking records: what do the experts advise ?

© Unsplash/Zlaťáky.cz

This is a historic level. At the time of writing, the price of an ounce of gold is around 2,200 euros, one of the highest levels ever reached. Therefore, investors are wondering, is this the right time to buy or should we, on the contrary, sell our gold ?

Several experts shared their views on the subject. Please note in any case that there is no certainty in this matter. This choice is yours, and it depends on your personal situation. No one can know whether the price of gold will continue to rise or fall.

What do analysts say?

Anyway, David Kass, professor of finance at the University of Maryland, shared his take on the subject. Quoted by CBS News, he explains: “Gold has been in demand as an investment during times of high inflation and political instability. With gold hitting new highs and inflation closing in on target levels of around 2%, both in the US and abroad. abroad, it seems that now is the right time for investors to reduce their stake in this precious metal and return to a normal distribution of their assets”.

Questioned by our American colleagues, Rohan Reddy, director of research at Global X ETFs, drives the point home:

< p>Gold has performed surprisingly well in 2023, despite historically unfavorable market conditions for the asset class. (…) We found that much of the recent rise was due to technical factors, mainly purchases by global central banks to diversify their reserves. In theory, these purchases have their limits, which may encourage investors to consider selling while gold prices remain high.

Not everyone is of this opinion. The Indian channel CNBC TV18, for example, gave the floor to Chintan Mehta, CEO of Abans Holdings on Commodity. The latter believes that the climate of geopolitical tension in the Middle East and the persistent risks of inflation can contribute to maintaining a high gold price. In crisis contexts, this precious metal therefore retains its appeal as a safe haven.

As we will have understood, there is no real consensus between the different experts. It is therefore entirely possible that gold will continue to rise, or that it will soon begin to fall.

What to remember:

  • Gold reaches levels historical
  • Opinions differ on the advisability of a resale or the relevance of an investment in gold
  • This precious metal remains a safe haven in times of crisis

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Teilor Stone

By Teilor Stone

Teilor Stone has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining Thesaxon , Teilor Stone worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my teilor@nizhtimes.com 1-800-268-7116