Gold rises, currencies fall

The boom in the price of gold is neither a mirage nor a fad. It is a symptom of a weakening monetary system as investors seek refuge from the loss of value of fiat money.

At the beginning of the year, few dared to predict that gold would exceed $4,000 an ounce. Even investment banks such as Goldman Sachs predicted that the precious metal could stagnate below $3,300. However, reality has exceeded expectations: gold has broken all the moulds and the markets are already talking about new historic highs for the coming years.

But behind this spectacular rise lies a much deeper message. According to analysis by Citadel, one of the world’s most powerful investment funds, the gold boom hides a very worrying trend: what they call ‘valuation operation’. A global strategy to allow fiat currencies to slowly devalue, reducing the real weight of government debt and, in turn, the purchasing power of citizens.

The silent loss of money’s value

Governments and central banks have turned inflation into a tool for economic survival. After years of monetary stimulus, cheap credit and massive money printing, the system has become accustomed to living with a constant dose of devaluation. When inflation erodes the value of currencies, debt becomes more manageable, but citizens’ savings are also worth less every day.

According to data from the International Monetary Fund (IMF), advanced economies have accumulated public debt exceeding 112% of GDP, the highest since World War II. And as the European Central Bank (ECB) warns, inflation in the eurozone will remain above 2.8% in 2025, despite high interest rate policy. This loss of purchasing power is the silent mechanism that shifts the debt burden onto citizens.

This is not a conspiracy theory, but a mechanism that is well known and has been repeated throughout history. And, as always, there is one asset that resists: gold.

Gold: the barometer of mistrust

When currencies lose credibility, gold gains. Unlike fiat money, it does not depend on any government and cannot be printed at will. It is finite, tangible, and universal. That is why, every time the monetary system falters, its value skyrockets.

The figures speak for themselves: according to the World Gold Council, central banks bought 1,037 tonnes of gold in 2024, 4% more than the previous year, the highest volume since 1967. China leads the way, with nine consecutive months of accumulation, followed by Turkey. While the West struggles with debt and money printing, emerging countries are bolstering their reserves with real assets.

This trend is in line with what 11Onze already pointed out in a previous article in La Plaça: in four years, gold has appreciated by 85%, and everything indicates that it will continue to rise in the face of the structural weakness of the pound sterling and persistent inflation.

According to Bloomberg, gold is trading at around $4,020 per ounce in October 2025, reaching an all-time high and consolidating its position as the best-performing asset of the last economic cycle.

The sector is on the move and 11Onze analyses

This global movement not only reflects an economic trend, but also a change in mindset: investors are once again seeking tangible assets and real value. The financial sector as a whole is rediscovering gold as a strategic asset. Banks, asset managers and investment platforms see it as a counterweight to the loss of value of currencies.

But at 11Onze, we have a different view: it is not just another investment product, but a tool for preserving value and economic sovereignty. Our experience in precious metals shows us that 100% allocated physical gold, with professional custody and total transparency, is the only real way to protect wealth in a scenario of widespread devaluation.

Investing in gold is not a reaction to fear, but an exercise in financial responsibility. It is understanding that wealth depends not only on what you earn, but on what you manage to preserve.

Devalue or preserve: two sides of the economic future

What Citadel calls ‘devaluation’ may seem like a sophisticated debt management strategy, but for ordinary citizens it translates into a silent erosion of their purchasing power. While central banks seek breathing room by printing money, gold offers respite to those who want to preserve their hard-earned wealth.

At 11Onxe, we have said it many times: when the system shakes, gold stands firm. It is not about abandoning currency, but about balancing risks. In a context of uncertainty and planned devaluation, gold remains the oldest and most reliable refuge in the world. Because if money melts like ice… gold continues to shine.

If you want to discover the best option to protect your savings, enter Preciosos 11Onze. We will help you buy at the best price the safe-haven asset par excellence: physical gold.

L’inversor nord-americà torna a avisar que els Estats Units estan en perill d’un col·lapse financer perquè s’està generant massa deute i hi ha escassetat de compradors. A més, apunta que la inflació, els baixos tipus d’interès i la fragmentació política empitjoraran la situació.

Ray Dalio, reconegut inversor i fundador del fons d’inversió Bridgewater Associates, fa mesos que va avisant del perill d’un col·lapse financer. Durant les negociacions sobre el sostre de deute per evitar una suspensió de pagaments de l’administració americana, Dalio explicava en un post a LinkedIn que no n’hi havia prou amb acordar un nou límit de deute si no es concretava com contenir o reduir la despesa i que “augmentar el límit del deute de la manera en què el Congrés i els presidents han fet repetidament conduirà finalment a un col·lapse financer desastrós”.

De fet, no cal ser un gurú de les finances per saber que gastar més del que guanyem i finançar-ho amb deute és la recepta perfecte pel desastre econòmic. Això, però, no és necessàriament sempre veritat si tens la capacitat d’imprimir diners sense conseqüències. L’hegemonia del dòlar com a moneda de reserva mundial i la demanda assegurada d’aquesta divisa gràcies al reciclatge de petrodòlars atorga als Estats Units una de facto “targeta black” que els permet gastar diners sense gaires preocupacions.

Quan no es pot satisfer als deutors i creditors

Tot i aquest comodí, el fundador de Bridgewater apunta que a la llarga no és sostenible, perquè l’augment dels actius i passius de deute més ràpid que els ingressos acaba per fer impossible pagar un tipus d’interès que satisfaci els creditors, i al que hi puguin fer front els deutors. És a dir, els tipus d’interès han de ser prou alts perquè el creditor obtingui un bon rendiment pels seus diners, però no fins al punt que el deutor no pugui pagar el seu deute.

Així mateix, argumenta que aquest escenari pot conduir al pànic i acabar creant una crisi de deute semblant a la reacció en cadena que precedeix a les crisis bancàries, però en aquest cas contra el banc central i amb bons del govern. Una situació que descriu com desastrosa que “causarà un desgavell financer i trastorns socials”

En aquest context, l’inversor creu que ens estem acostant a aquest punt d’inflexió en què la quantitat de deute emès pel govern superarà la demanda, la qual cosa obligaria a una impressió ingent de diners i una venda de bons governamentals que posaria al banc central en una posició insostenible. En altres paraules, els creditors no prestaran més diners i vendran els seus actius de deute -provocant una pujada dels tipus d’interès- o forçaran que el banc central imprimeixi més diners i compri deute en un intent de mantenir els tipus d’interès baixos, per tant, creant inflació i provocant una contracció de l’activitat econòmica. 

Com evitar o preparar-se pel col·lapse

“Crec que s’ha de reformar el sistema i donar una resposta expeditiva amb un bipartidisme intel·ligent”, apunta Dalio en una entrevista a Bloomberg. I afegeix, “Si seguim per aquest camí, en termes del que és probable en els pròxims cinc i deu anys, s’arribaria a un punt en el qual aquest acte d’equilibri es fa molt difícil”.

En qualsevol cas, aquestes mesures o canvi de paradigma depenen en gran part dels polítics, sobre els quals la població no té gaire influència independentment dels resultats electorals. Cal recordar que els interessos de la banca i dels poders fàctics tenen prioritat  per sobre dels de la ciutadania. Davant d’una crisi financera només una minoria selecta té accés a informació privilegiada que li permet assessorar la gravetat de la situació per protegir els seus estalvis.

Llavors, com podem protegir les nostres finances davant d’un desastre econòmic que sembla més que probable? Ray Dalio ho té clar, encara que reconeix que té una “petita” quantitat de bitcoin, prefereix l’or, al que descriu com “universal i atemporal”, i continua “no entenc per què la gent s’inclina més pel bitcoin que per l’or. Si ens fixem en l’àmbit internacional, l’or és, per als bancs centrals, el tercer actiu de reserva”. I és que en aquest context econòmic la compra d’or és una de les poques opcions que tenen, no només els bancs, sinó, la gent per salvaguardar els seus diners. 

Si vols descobrir la millor opció per protegir els teus estalvis, entra a Preciosos 11Onze. T’ajudarem a comprar al millor preu el valor refugi per excel·lència: l’or físic.

El Banc d’Espanya alerta que 1,6 milions de llars no poden fer front a les despeses essencials. L’encariment dels productes bàsics, la inflació i la pujada dels tipus d’interès estan fent créixer la proporció de famílies en situació de vulnerabilitat.

Gairebé una de cada deu famílies espanyoles no va poder cobrir les despeses essencials amb la seva renda bruta durant el 2022, davant del 7% de fa dos anys. Pressionades per l’encariment dels productes bàsics, l’elevada inflació i per l’efecte que la pujada dels tipus d’interès del BCE ha tingut sobre les hipoteques. Aquesta és una de les principals dades que es desprenen de l’informe sobre la situació financera de les llars i les empreses que el Banc d’Espanya va publicar aquest dijous passat.

L’òrgan supervisor estatal constata que la inflació és la principal causa darrere de la pèrdua de poder adquisitiu acumulada del 4,5% i que l’augment dels tipus d’interès afecta de manera directa a les llars amb préstecs a tipus variable. “Les llars amb aquests tipus de deutes, independentment del nivell de renda, són més vulnerables. Això és així no només perquè dedicaven un percentatge major de la seva renda a despeses essencials sinó perquè els seus actius líquids cobreixen una menor proporció d’aquesta despesa”.

L’informe també assenyala que l’increment del cost de finançament ha provocat una reducció en la demanda de crèdits a les llars en els darrers mesos, que ja es va veure a finals del 2022 i que s’ha accentuat durant els tres primers mesos d’aquest any, amb un impacte especial en els préstecs destinats a l’adquisició d’habitatges. Segons els bancs, aquesta evolució és fruit de l’augment dels tipus d’interès i una disminució de la confiança dels consumidors. Pel que fa al segon trimestre, els bancs preveuen una caiguda addicional en les sol·licituds de crèdit a les llars.

L’accés al crèdit no només s’ha deteriorat per a les llars, les empreses, especialment les PIMES, tenen més dificultats per aconseguir crèdit, i quan l’aconsegueixen és en condicions més desfavorables. El Banc d’Espanya avisa que tot i que la facturació de les empreses va seguir pujant significativament i que el seu endeutament s’ha continuat reduint, el cost mitjà del deute “estaria començant a frenar l’augment dels beneficis després d’interessos”.

Creix l’estalvi i es redueix l’endeutament de les llars

No tot són males notícies. Les dades de l’informe indiquen que la taxa d’estalvi de les llars ha repuntat, principalment per la contracció del consum, que se situa per sota de la seva mitjana històrica, i abandona la tendència descendent observada després de la pandèmia. 

D’altra banda, el Banc d’Espanya aclareix que el comportament de la taxa d’estalvi durant els últims anys és compatible amb l’acumulació d’actius líquids per part de les llars. De la mateixa manera, explica que, en termes reals, la riquesa es va recuperar a la fi de 2022, després de les caigudes dels trimestres anteriors, gràcies a la moderació de la inflació. Encara que la desacceleració del preu de l’habitatge va fer que el component immobiliari contribuís a l’augment de la riquesa nominal.

Així mateix, la proporció d’endeutament de les llars ha experimentat una disminució significativa, situant-se a principis de 2023 en nivells que no s’havien observat des de 2003. Aquesta reducció es deu principalment a l’increment dels ingressos nominals -impulsats per la creació d’ocupació i l’augment dels salaris- i vinculada, en part, al repunt de la inflació.

Si vols descobrir com aconseguir guanys pels teus estalvis amb un producte de justícia social, 11Onze Recomana Finança Litigis. Perquè l’estiu que ve, tinguis les vacances pagades!

In two decades, gold has increased eightfold in value. What was seen twenty years ago as a traditional precious metal is now a strategic asset for investors and central banks. According to data from Goldprice.org, between September 2005 and September 2025, the price of gold in dollars has risen by +707%. This explains why more and more savers are turning to this asset as a refuge from economic instability.

In 2005, an ounce of gold was trading at around $400-450. Today, its price stands at around $3,770 to $3,800 per ounce, according to the latest international quotes. This means that a €10,000 investment in gold in 2005 would be worth around €85,000-€90,000 today. All this in a period marked by financial crises, expansionary monetary policies and geopolitical tensions.

This growth has not been linear. The price of gold has experienced sudden rises and significant corrections, but the underlying trend has always been positive. For example, after exceeding €1,900 in 2011, gold fell to €1,050 in 2015, before resuming a new upward trend. This shows that, despite its strength as a safe haven, it is also subject to cycles and periods of high volatility.

Another relevant factor is its behaviour in the face of inflation. If we consider that the purchasing power of the pound sterling has fallen by around 40% over the last twenty years, the revaluation of gold more than compensates for this loss. In other words, it has not only protected your savings against inflation, but has also generated a substantial real gain. This is why many experts recommend including a portion of gold in any diversified investment portfolio.

Key factors in the revaluation

• The 2008 financial crisis. The collapse of Lehman Brothers and the global banking system triggered a flight to safe assets. Gold skyrocketed, exceeding £1,000 per ounce for the first time.

• Massive money printing. Central banks, especially the US Federal Reserve and the European Central Bank, have flooded the market with liquidity. Low interest rates and growing public debt have undermined confidence in fiat currencies.

• Inflation and loss of purchasing power. The rising cost of basic goods and energy, especially after the pandemic and the war in Ukraine, has reinforced gold as a hedge against persistent inflation.

• Geopolitics and de-dollarisation. More and more countries, led by China and Russia, are reducing their dependence on the dollar and accumulating gold reserves. According to the World Gold Council, central banks have purchased record amounts of the metal in recent years. 

Comparison with other assets

• Stock market: The S&P 500 index has also grown strongly over the last twenty years, but with greater volatility and sharp declines (2008, 2020). Gold, on the other hand, has maintained a more stable trend.
• Sovereign bonds: Ultra-low interest rates have reduced real returns, especially in periods of high inflation.
• Cryptocurrencies: Despite the explosion of bitcoin, which has seen astronomical increases in a short period of time, its extreme volatility and lack of institutional support set it apart from gold, which remains universally accepted. 

A historical safeguard

Gold has a millennia-long history as a store of value. From the classic gold standard to the Bretton Woods system, this metal has been at the heart of the global monetary system. Today, without being tied to any currency, it is precisely its independence from governments and central banks that makes it so attractive.

According to the World Gold Council, by the end of 2022, central banks had accumulated more than 35,000 tonnes of gold, valued at nearly €2 trillion. It is the third most important reserve asset in the world, behind only the dollar and the euro.

Looking to the future

Forecasts by major financial institutions point to a continuation of the upward trend. Goldman Sachs and J.P. Morgan estimate that the price could exceed $4,000 per ounce by 2026, especially if a global recession is confirmed and geopolitical tensions continue.

For small investors, this raises the question: should they diversify with gold? The current options—from buying bullion and coins to fractional investment systems—make it more accessible than ever.

Over the past twenty years, gold has proven to be much more than just a shiny metal: it is insurance against uncertainty. In a world marked by inflation, trade wars and crises of confidence in currencies, gold continues to consolidate its position as the safe haven par excellence.

If you want to discover the best option to protect your savings, enter Preciosos 11Onze. We will help you buy at the best price the safe-haven asset par excellence: physical gold.

New technologies have entered the financial sector with force. Decentralised Finance (DeFi) is the spearhead of a fintech revolution that is ousting traditional banking. As Albert Chic, a member of the 11Onze team of agents, explains, we are facing a paradigm shift.

The decentralisation of the financial system is already a palpable reality. The rise of cryptocurrencies seems unstoppable and even central banks are launching their own digital currencies in order not to lose relevance in a world that they had controlled, but which they are gradually seeing slip out of their hands. “It’s a paradigm shift, no central authority controls them,” says Chic.

The agility provided by the combination of technology and financial services is taking over a market that is especially young, hyper-connected, and has never understood the slowness, unnecessary complication, and exorbitant fees associated with traditional banking. Moreover, many of these new financial tools are based on blockchain technology, which makes them more secure when it comes to protecting us from cyber-attacks. As Albert Chic explains, “so far, they have proven to be more resilient networks against cyber attacks“.

Today, there is practically a decentralised alternative for most financial services. If you want to know more, watch the video below, where Albert Chic explains it briefly.

11Onze is the community fintech of Catalonia. Open an account by downloading the super app El Canut for Android or iOS and join the revolution!

Compartir compte corrent amb altres persones, ja siguin familiars, companys de pis o socis, té implicacions tant per a l’organització de les nostres finances com per a la nostra fiscalitat. Mireia Cano, cap d’agents d’11Onze, explica les diferents fòrmules per constar en un compte i les responsabilitats fiscals que comporten.

Un primer element que s’ha de considerar quan volem compartir un compte corrent és el rol de cada persona, ja que es pot constar com a titular, persona autoritzada o representant legal.

Els titulars d’un compte són responsables dels diners a parts iguals a no ser que algun document oficial acrediti el contrari. A més, els titulars “poden tenir firma indistinta, és a dir, que qualsevol pot fer operacions, o bé firma mancomundada, és a dir, que cal la firma de tots ells per operar”, com explica Mireia Cano.

Una altra opció és que algú consti en un compte com a autoritzat o firma reconeguda. En aquest cas el titular és qui té el poder sobre els diners i qui en respondrà a nivell fiscal, però autoritza una altra persona per fer determinades accions, com fer transferències o treure diners. Això sí, una persona autoritzada mai podrà crear o cancel·lar contractes de comptes corrents o de targetes vinculades. 

Un tercer rol és el de representant legal, que s’utilitza, per exemple, en els comptes de menors i de persones dependents. Els representants legals tenen la potestat sobre els diners del compte, tot i que no siguin titulars.

Quan compartim un compte corrent, s’ha de tenir molt en compte com ens pot afectar cadascuna de les nostres accions i de les altres persones que hi participen. Per tant, és molt recomanable que, abans d’obrir el compte, definim per a què l’utilitzarem i tinguem clar què implicarà per a cada persona i quines responsabilitats estem assumint en termes legals i tributaris.

11Onze és la fintech comunitària de Catalunya. Obre un compte descarregant la super app El Canut per Android o iOS. Uneix-te a la revolució!

You get home, look up at the ceiling and see a large damp patch that wasn’t there yesterday. This scene, as common as it is unpleasant, is usually the first sign of a water leak from the flat above. In fact, according to insurance companies, water damage is one of the most common types of damage in homes, and it often originates from a fault outside the home itself.

In many cases, the problem is caused by a burst pipe, a damaged drain or a tap that has not been turned off properly. All in the neighbour’s home. And then the headache begins: finding the source, contacting the other party, assessing the damage and, above all, figuring out who should pay for what.

The first thing to do when faced with a leak is to locate the neighbour above as soon as possible and notify them of the issue. In cases like this, acting quickly can prevent further damage. If the leak is active, it is essential to immediately turn off the water supply to your home until a technician can repair the fault.

It is important to keep a record of everything: photographs, videos, conversations. Any evidence may be useful if the situation becomes complicated and a formal complaint needs to be made. It is also a good idea to check whether your home insurance includes legal defence cover, which can make the process much easier.

Am I entitled to compensation?

The answer is yes. Even if the issue comes from the flat above, you are entitled to compensation for the damage caused to your home. However, how this compensation is paid will depend, to a large extent, on whether your neighbour has insurance and on the terms of their policy.

In most cases, if your neighbour has home insurance, their company will be responsible for repairing the damage to your property. However, there are essential exceptions to bear in mind.

When insurance does not cover the damage

There are situations in which your neighbour’s insurance may refuse to accept liability. For example, if the leak was caused by a tap being left open, and you have been away from home for more than 72 hours, the company may consider this a case of negligence and reject the claim.

The same applies if there is evidence of obvious lack of maintenance in your neighbour’s home, such as a badly deteriorated installation that has never been checked. In these cases, the responsibility falls personally on the owner of the affected property.

Another common scenario is that of building works. If the leak is a direct consequence of renovation work in your neighbour’s home, the responsibility falls on the company or professional who carried out the work, and it is that person who must have civil liability insurance to cover the damage caused.

What if no one wants to pay?

Even if the person responsible for the leak does not have insurance, they are still legally obliged to cover the damage they have caused. They can do this by paying for the repair directly or by paying the bill if you have had to advance the cost.

But what if they refuse to do so? In this case, it is essential to have photographic evidence of the damage (photos, videos) and to request an expert report through your own insurance company, if you have one. This document will be key if it is necessary to take legal action.

If you have legal defence cover, you can ask the company to provide you with a solicitor to handle the formal claim. The usual procedure is to send a letter setting out the facts and requesting compensation or payment.

If there is no response or a refusal, the next step is to file a lawsuit. Legal proceedings in these cases are usually quick and straightforward, and often end with a ruling in favour of the injured party. If, however, the person responsible continues to refuse to pay, you can request enforcement of the ruling and proceed with seizure to recover the money.

A common but avoidable situation

Water damage is common, but that doesn’t mean it has to be a nightmare. Good communication with your neighbour, adequate insurance and a quick response can make the difference between an anecdote and a legal battle.

That is why it is essential to know your rights, review the terms of your policy and act decisively from the outset. When faced with a leak, there is no need to lose your cool… but there is also no need to sit idly by.

If you want to discover fair insurance for your home and for society, check 11Onze Segurs.

Looking for financing is no longer synonymous with going to the bank. Nowadays, there are a wide range of other options that can be an alternative and that need to be known.

Ignorance about the existence of credit providers other than banks is still the main obstacle: only one in three businesses is aware of the existence of Fintech or digital financing platforms, and only 20% say they have used them. This data is taken from the fintech and alternative financing business barometer, created by the Institut d’Estudis Financers (IEF) in collaboration with Altria Corpo and presented on 2 February.

According to the same survey, 40% of businesses believe that access to banking credit has tightened in the last 12 months and, even so, 50% believe that they will need access to it in the next 12 months. One of its drivers and attractions is therefore easier accessibility than banks. Its costs are also realistic: the interest rates are usually in line with the market, so as to be competitive, and at the same time, there are no surprises or unexpectedly high interest rates.

But what are these “other forms of financing”?

Businesses that are already using them opt mainly for factoring, renting and leasing (representing 25% of the total). Other options such as crowdlending or crowdfunding are more common in the start-up world. But let’s find out what is behind these terms:

• Factoring is used by businesses to advance collections: as simple as the provider of this service will pay us in cash for the invoice we have pending with a client (on credit) and will take care of the subsequent management. We will be subject to interest and, possibly, a commission of the costs. There are various types, depending on the assumption of the risk of non-payment. We should also mention confirming, the reverse option, where the supplier assumes the payment of invoices and converts them into credit.
• Renting allows the rental of movable assets, such as vehicles, office or computer equipment, for periods of more than one year. Fixed instalments will be established as payment, which often include maintenance, insurance, etc. We will enjoy a new asset in perfect condition, without having to make a significant initial outlay. The main difference with leasing is that, in this case, it incorporates a purchase option at the end of the contract.
• Crowdlending is a form of lending by investors, with a low-interest return, without the need to go to the bank. We can find providers such as Ecrowd!, dedicated especially to technology projects, which offer this financing option.
• Crowdfunding, widely used in start-ups, is based on obtaining the interest of other people in our project and raising funds in exchange for offering an advantage or privilege later; very oriented to product launches, preference or discount on the purchase could be an example of consideration. It will be fairly easy to find many crowdfunding platforms to get started.
• Investments of a more professional nature are known as crowdinvesting or business angels, where funding is received from companies or players in the sector and who will usually ask for a percentage of future profits in return.

As we have seen, the orientation of alternative financing to banks tends to be towards investment in business projects rather than individuals, although options such as renting or leasing can be useful in the latter case, if we think for example in the case of a salesperson who wants to enjoy a vehicle without the high costs of wear and tear and the purchase of a new one every few years. In both cases, we must not forget or rule out public financing through subsidies or grants, such as those offered by the Generalitat, city councils, such as Barcelona’s, or the Chambers of Commerce. Many of these grants have been created or increased specifically to alleviate the negative effects of the pandemic, and you just have to keep an eye on the different calls for applications.

11Onze is the community fintech of Catalonia. Open an account by downloading the super app El Canut for Android or iOS and join the revolution!

Over the past two years, central banks have added record amounts of gold to their reserves and intend to continue increasing their holdings of the golden metal in light of macroeconomic and geopolitical uncertainty. Beyond gold’s attractiveness as a safe-haven asset in times of economic crisis, many countries are diversifying their reserves away from the US dollar, data released by the World Gold Council (WGC) show.

The latest survey by the World Gold Council (WGC) on Central Bank Gold Reserves, which was conducted between 19 February and 30 April 2024 with a total of 70 participants, shows that 29% of respondents plan to increase their gold reserves over the next twelve months and 81% expect an increase in global central bank holdings over the same period, the highest proportion recorded since this annual survey began in 2018.

The report confirms that in an increasingly challenging economic and geopolitical environment, central banks worldwide continue to increase their gold holdings. According to the survey, 1,037 tonnes of gold were acquired during 2023, the second-highest figure in history, after the record 1,082 tonnes in 2022.

The record demand for gold by central banks over the past two years has been spurred, in large part, by the eagerness of some countries to diversify their foreign exchange reserves. According to data from the World Gold Council (WGC), in the first quarter of this year alone, central banks had already added 290 tonnes to their reserves, up 1% year-on-year and 69% more than the quarterly average of the past five years. This is the strongest start to the year in the WGC’s historical series, which dates back to 2000.

“Despite record industry demand over the past two years, compounded by soaring gold prices, many reserve managers continue to maintain their enthusiasm for gold,” Shaokai Fan, head of the WGC’s central banking division, said in a statement.

The dollar loses its prominence

Central banks are more optimistic about gold’s future share of global reserves and more pessimistic about the dollar. It is obvious, that the weaponisation of the dollar through economic sanctions and the Russian central bank’s asset freeze are having a positive effect on gold purchases.

The WGC notes that the main motivation for the planned buying is “the desire to rebalance gold holdings, domestic gold production and financial market concerns, including heightened risks of crises and rising inflation, to a more preferential strategic level”.

When asked about gold’s future share of global reserves, 69% of respondents believe that gold will occupy a larger share of reserves in the next five years, up from 62% in 2023 and 46% in 2022. Central bankers are more pessimistic about the US dollar’s future share of global reserves because it has become less attractive in the long term for investors seeking a safe-haven asset.

In any case, the main reasons given by central banks to justify increasing their gold holdings – “long-term store of value or hedge against inflation”, “yield in times of crisis” and “effective portfolio diversifier” – are equally valid for any investor who wants to protect his savings in the current economic and geopolitical context.

If you want to discover the best option to protect your savings, enter Preciosos 11Onze. We will help you buy at the best price the safe-haven asset par excellence: physical gold.

With rampant inflation and a crisis that seems to emerge, it is essential to know how to move the money we have saved in order to make the most of it. But how do you do it? What’s the trick to investing wisely? One of the keys is diversification.

After all, diversifying your savings means not putting all your eggs in one basket. But what are these five baskets? Where should I put my eggs? Although a large part of our money is probably well saved in a savings account, it is interesting that some of it is spread across different financial products. This will allow us to diversify our investments and, with patience, obtain a better return on our savings. If you are a beginner investor, take note!

1. Temporal diversification. It is important to invest in different products with different durations, i.e. short, medium and long term at the same time. This diversification over time should allow us to take profits at different points in time. 
2. Diversification between securities. Once we have established the time horizon of our investments, we need to analyse well what we are investing in. Diversifying between securities therefore involves investing in different types of products: shares, investment bonds, ETF packages, etc. In short, investing in a little bit of everything, so that the risk is lower.
3. Geographical and sectoral diversification. In addition, not only should we try to invest in a varied way and with different terms, but we should also try to invest in different geographical areas and sectors. Try to invest around the world, because if you do, you will get better results – don’t just stay in your own territory!
4. Diversification by growth potential. In addition to investing in geographical areas and sectors that are already consolidated, try to allocate part of the investment to emerging countries and sectors. In this case, we will be looking for a certain component of volatility, i.e. market fluctuation, which can give us an unexpected profit in the short term.
5. Diversification by product type. If up to now we have been talking about shares, bonds or ETF packages, we now add other investment products, of lesser or greater risk, such as savings plans, retirement plans, fixed assets such as housing, precious metals or cryptocurrencies. This completes the entire investment cycle!

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