Let’s see now what the signs for the economy came from the news about the recent record high price of gold. According to financial analysts, this is also a sign of the slow economy, which could lead to a reduction in interest rates before the end of the year. It is expected that the precious metal will continue to rise in price. Is this a good or bad sign?
This is what BNT is asking.
According to some analysts, the main reasons for the highest price of gold are the geopolitical tension in the last two years, the expectation that the Federal Reserve will reduce interest rates and the recession of the American economy.
“If this trend of slowing down the American economy continues, it will put pressure on the Federal Reserve to lower interest rates.” The trend in Europe is the same as in America, which is lower interest rates,” said Zdravko Pirinliev – investment analyst.
According to other experts, the price of gold is not rising, but the currency in which we value it is decreasing.
“Because more and more unsecured money is being printed. That is, new debt is always being created, that is inflation. economy”, believes Max Baklayan – executive director of a gold investment company.
The price of gold is an indicator of the state of the economy.
“The higher the price of gold, the more unhealthy the economy. “
“Whether there will be a recession, whether there won’t be a recession — whether the Americans are going to make a ‘soft landing’ or something more turbulent that could happen to the market. So right now, the risk is higher than it was two years ago.”
In the first quarter of this year, central banks bought nearly 290 tons of investment gold.
“In 2024 at the very beginning – that’s the first year that gold overtakes the euro as the largest asset held on central bank balance sheets. In fact, central bankers say that They trust gold more than the euro.”
In 4 years, the euro, to which the Bulgarian lev is linked, has depreciated by 35%.
“Just since the beginning of this year, gold has increased by €23. In addition to protecting us from inflation, it also gives us the opportunity to make a profit.”
And Bulgarians are very interested in investment gold.
“Bulgaria ranks third in Europe only after Germany and Poland in the amount of gold purchased per capita in terms of GDP”.
For the first half of the year, sales of investment gold in our country increased by 10% compared to the same period last year.
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2024-08-24 18:09:53
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