Gold price breaks through €84,000 per kilo due to threatening statements Trump
Gold price breaks through €84,000 per kilo due to threatening statements Trump
Under the influence of threatening statements by future US President Donald Trump about Greenland and the declaration of an economic emergency, the gold price has set a new record of €84,000 per kilo.
While Trump's election victory initially led to a correction in the gold price, the markets now seem to be pricing in more geopolitical uncertainty again.
Problems surrounding British deficits and debt also lead to demand for safe havens such as gold, partly due to fears of contagion to the euro and dollar.
The recent interest rate cuts by the ECB and the Fed and a weak euro give gold tailwind. Long-term interest rates have risen sharply in the United Kingdom, Europe and the United States
due to concerns about inflation and government debt. Major US banks remain positive about gold and the hunger for the yellow metal from China and India does not seem to have been satisfied for the time being.
December was the busiest month of 2024 for Holland Gold, ending a good year for gold with a 36% increase in the gold price.
Holland Gold was very busy due to both purchases and resales of gold and silver. In the fourth quarter, the company recorded record turnover, peaking in December. What is striking is that the price movements of recent times are causing investors to move.
Director Paul Buitink: "Trump is putting pressure on international relations. But the Dutch government and banks also constantly point out danger and threat of war to citizens. It is also advised to withdraw cash. This ultimately also translates into the purchase of more physical precious metals, as insurance against system failure and inflation."
Traditional groups of investors are supplemented by a striking number of new, often young, investors who see how inflation affects their assets and start investing in precious metals. "Gold has always been a conservative investment by mostly older men. Nowadays we see interest from all walks of life," Buitink continues. "We now have 100,000 customers in the Netherlands and we store precious metals for half a billion euros in vaults. Gold still has exactly the same function as hundreds of years ago, an alternative to unreliable money and an insurance against inflation."
Do you also want to invest in gold? View our website or request a no-obligation consultation view : https://www.hollandgold.nl/adviesgesprek/
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