Never has gold so deserved its nickname of “safe haven in times of crisis”. Since January 1, 2020, the price of the precious metal has soared by more than 30%. Currently, the ounce of gold is trading at around 1,650 euros, while the price of the kilo flirts with the 55,000 euros mark.
“Historically it has never been so high”, loose Emilie Guillemin, head of the agency Or en cash de Montluçon, where sellers and investors have flocked in droves since deconfinement.
“People who no longer trust banks”
If this increase was announced by observers at the end of 2019, the “Covid effect” strongly boosted the price of the precious metal. However, the confinement had the effect of “freezing” the yellow metal market. In question: the impossibility that individuals had to go to the shops to buy and sell gold.
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We received a lot of calls during the lockdown, including a lot of people who wanted to sell. Someone even asked me to give him an estimate on the street!
Maxime Colombet, manager of Or’Invest Montluçon
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Once the deconfinement came, the market was carried away and records were linked. At Or en cash, “branch visits have doubled since mid-June,” says Emilie Guillemin. And the store does not only deal with insiders in the particular world of precious metals. Rather, it is “people who are afraid for the future” who come to ring the doorbell of the store located on Boulevard de Courtais.
“I see clients of almost all ages. It can be people who could not make ends meet because of a loss of salary during confinement, or even young students who prefer to buy a small ingot rather than open a booklet A who, anyway. way, not gonna make them much money. “
Emilie Guillemin (Gold manager in Montluçon cash)
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“We make transactions of 50 to 57,000 euros,” adds the agency manager. A diversification of the clientele also noted by Maxime Colombet, manager of the Montluçonnaise company Or’invest. Although the motivation often remains the same: “Diversify their savings”.
“Gold always rises when we are in a period of crisis but there are also a lot of people who no longer trust banks,” said the dealer. In addition, gold is physical, it is concrete. We have it in our hands, it’s more reassuring. “
A profitable investment every time?
But concretely, is the yellow metal really the announced golden hen? Considered as the ultimate safe haven, in France gold continues to be regarded as a reassuring, reliable investment capable of withstanding the ups and downs of the market.
For example, a customer bought several twenty gram bars from me a few days ago. And in half a day, the course had climbed by 20 euros.
Emilie Guillemin
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It remains to be seen whether prices will continue to climb after having multiplied records. “We don’t know,” replies Maxime Colombet. The specialists tend to think that it will continue to increase, but it is difficult to project. “
Sid Benahmed
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