For most investors, gold is insurance in the event of a crisis. With the US elections and Covid-19, two global uncertainty factors are at work – but their effects are waning.
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This year, the gold price development was largely determined by the pandemic.
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The crisis year that is coming to an end is impressively reflected in the development of the gold price. Since the beginning of the year, the yellow metal, which has more than earned its safe-haven status over its long history, has appreciated almost 25% in dollar terms. In Swiss francs and in euros, the increase in value was around 20%. It did the best in a cross-comparison with other asset classes such as stocks or bonds and achieved the highest return in the last ten years. Was that it now, or will there be even higher prices in the next few years?
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