A safe haven, gold broke records again in March, benefiting from an uncertain geopolitical context and increased investor mistrust of the dollar and Donald Trump’s changing policy. French jewelry and watchmaking companies are considering replacing it with other materials.
Gold has never been so expensive. This safe haven material thrives in an uncertain environment. And in this area, it is currently being served, both by the macroeconomic and geopolitical context…
On March 13, the gold ounce broke a new record, exceeding the $3,000 mark before ending at $2,986, a rise of 1.68%. The reason for this was Donald Trump’s announcement on the same day that he intended to impose a 200% tax on champagne, wine and other spirits from the European Union (EU) if the EU did not abandon its own plan to tax American whiskey at 50%. In the following days, gold rose further before falling back slightly on March 21 and 24. Over five days, on March 24 at around 5 p.m., gold was up 3.35%.
High tariffs, soaring gold prices
“The equation remains simple for gold: the higher the customs duties, the greater the uncertainty and the stronger the demand,“ Stephen Innes, analyst at SPI AM, told AFP.
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Read also > Swiss watch exports fall again in February
Featured photo: © Ruan Richard/Unsplash+
