Tips to secure your crypto account

If you already trade cryptocurrencies through the Bitvavo platform that 11Onze Recommends, we give you 6 tips to increase the security of your account. Take advantage of Bitvavo’s tips and promotions and learn how the world of cryptocurrencies works.

During this month of July Bitvavo is offering two promotions for those users who sign up to the platform. But not only this, it also gives us ideas to improve the security of our account. To explain: 

1. Enabling two-factor authentication. The first step in securing your Bitvavo account is to enable two-factor authentication (2FA). This adds an extra layer of security in a very simple way: by requiring a unique code generated by an authentication application. This makes unauthorised access much more difficult, so it’s a great barrier against hackers.
   Another thing: if you use an authentication application, one of those that recognise you on all devices, do not synchronise Bitvavo codes with your personal account. Keep them only on your device.
2. Use a strong password. How can you create a strong password? Well, it’s not complicated: avoid using common words, phrases or personal information that can be easily guessed. A combination of upper and lower case letters, numbers and special characters is always recommended. But do yourself a favour and write it down somewhere so you don’t forget it!
3. Keep your account information private. It’s a no-brainer, but it’s worth remembering: never share your Bitvavo account details with anyone. This includes your password, security question and API keys. Also, beware of phishing scams and fake emails that may try to steal your personal information. Remember, neither Bitvavo nor 11Onze will ever ask for your account information via email or a phone call.
4. Secure your email. Your email is linked to Bitvavo, so it would be a good idea to enhance your security as well. That’s why you can activate two-factor authentication and regularly check for account leaks. There are tools to check for this, such as haveibeenpwned.com. Another option is to create an email address just for your Bitvavo transactions.
5. Use the anti-phishing code. If you activate the anti-phishing code, it will be included in all automatically generated emails sent by Bitvavo. With this code, you can check if the email really comes from Bitvavo. You can change your anti-phishing code by following the instructions here. Or by watching the video linked below.
6. Try to stay informed. Regularly check your accounts, the official blogs and La Plaça. This will help you stay informed about any security issues or updates to the platform.
7. EXTRA: Blocking fund withdrawals. Bitvavo also allows you to totally block withdrawals. This way, you can only trade in cryptocurrencies, but you can never withdraw money in euros. This prevents the possibility that someone can impersonate the user and download the money. The Dutch platform explains in this article how to block deposit withdrawals and how to re-enable them when necessary.

How to use the anti-phishing code.

11Onze Recommands Bitvavo, cryptocurrencies easily, safely and at a low price.

How much do we spend on beauty products? What is the impact of natural cosmetics in this sector? We talk about all this and more with Esther Vallès, co-founder of El Mirall Blau Perruquers, and Gemma Vallet, Director of 11Onze District, in a new episode of La Plaça of Territori 17.

The recovery of the perfumery and cosmetics sector is consolidating after the slowdown caused by the health pandemic. Last year’s turnover was 9,205 million euros, 11.3% more than the previous year, according to data from the National Association of Perfumery and Cosmetics (STANPA).

Per capita consumption has set a new record, approaching 185 euros per person per year. Even so, Esther Vallès thinks that the real figure is much higher, at over 250 euros: “I think we spend a little more because we are increasingly aware that we have to put quality products on our skin“. In fact, the data shows that all product categories have grown and exceeded pre-pandemic levels for the second year in a row.

Natural cosmetics are gaining market share

People have become aware of the advantages of natural cosmetic products. More and more people are joining the trend to buy cosmetics made traditionally and with ingredients that are less harmful to the environment and our skin.

As Vallès explains: “If you use a type of cosmetic that contains parabens and silicones, what it fixes on the one hand, it undoes on the other”. Moreover, these are products that are more sustainable because they are made with plant-based ingredients, so they do not generate chemical residues that are harmful to the environment.

Beyond the possible benefits of natural cosmetics, the co-founder of El Mirall Blau points out that customers value, above all, honesty and that the benefits of the product are palpable. “Often, modern cosmetics can give good immediate results, but in the long run they are damaging your hair”.

If you want to wash your clothes without polluting the planet, 11Onze Recommends Natulim.

En un moment d’elevada incertesa econòmica, amb tensions geopolítiques globals, inflació persistent i una confiança minvant en les monedes fiduciàries, molts estalviadors es pregunten com protegir el seu patrimoni. I cada cop més, la resposta apunta en una direcció molt concreta: l’or.

Aquest metall preciós, amb milers d’anys d’història com a reserva de valor, torna a ocupar un lloc central en les estratègies de protecció financera. I no és casualitat. Més enllà del seu simbolisme, l’or ofereix una sèrie de característiques que el fan únic en temps d’incerteses.

L’or no és un actiu financer convencional. No depèn de cap emissor, no comporta risc de crèdit i no es pot crear arbitràriament, com sí que passa amb les divises. És un actiu tangible, escàs i universalment reconegut. Aquestes qualitats el converteixen en un refugi natural davant la inflació, la incertesa i els cicles econòmics adversos.

Quan les borses cauen, quan els bancs centrals imprimeixen diners a gran escala o quan el valor dels diners es dilueix, l’or manté —i sovint incrementa— el seu valor. I això és exactament el que està passant.

El moment actual

Durant els darrers quatre anys, el preu de l’or s’ha revalorat prop d’un 85 %, i només en el darrer any ha pujat més d’un 30 %. Es tracta d’una tendència clara i contundent, impulsada per la debilitat estructural del dòlar, la previsió de recessió als Estats Units i una inflació global que no s’ha pogut contenir del tot. Aquestes xifres no són promeses de futur: són fets que han cridat l’atenció tant d’inversors institucionals com de particulars.

Amb data d’agost de 2025, l’or cotitza prop dels 3.380 dòlars per unça, assolint màxims històrics. Paral·lelament, els bancs centrals —especialment el de la Xina— acumulen or mes rere mes, amb nou mesos consecutius de compres, en una clara estratègia per reduir la seva exposició al dòlar i blindar el seu sistema monetari.

També la demanda individual es manté elevada: a l’Índia, tot i el preu elevat, la compra de joies d’or continua sent massiva, reafirmant el metall com una reserva de valor familiar per excel·lència.

I què diuen les previsions?

Les principals entitats financeres internacionals apunten cap a una continuïtat de la tendència alcista en el valor de l’or durant els pròxims mesos i anys:

• HSBC preveu una mitjana de 3.215 $ l’unça el 2025, amb pics de fins a 3.600 $.
• Goldman Sachs va més enllà i estima que, si s’agreuja la recessió, podríem veure valors superiors als 3.800 $.
• J.P. Morgan apunta a una mitjana de 3.675 $ al quart trimestre d’aquest any, amb possibilitats reals de superar els 4.000 $ el 2026.
• D’altres informes, com el de WisdomTree, arriben a estimar un escenari extrem que podria portar l’or fins als 5.000 $ per unça si es desencadenen nous xocs inflacionaris o polítics a escala mundial.
  

Tot plegat dibuixa un escenari on l’or consolida el seu paper com a actiu estratègic per preservar valor i oferir estabilitat en carteres cada cop més exposades a riscos sistèmics.

I per als petits inversors?

Avui, invertir en or ja no és patrimoni exclusiu de grans fortunes ni de bancs centrals. Qualsevol inversor amb criteri i visió pot accedir-hi de manera segura i transparent, sense necessitat d’intermediaris opacs ni productes financers complicats.

Existeixen opcions accessibles per a tots els perfils: des de la compra directa de lingots o monedes, fins a la inversió fraccionada amb custòdia professional, o sistemes híbrids que permeten gestionar el teu or com un actiu patrimonial real, físic i assignat.

El més important no és només adquirir or, sinó com i amb qui ho fas. Els inversors més exigents busquen:

• Transparència contractual i preus clars.
• Or físic 100 % assignat, no paper ni promeses. 
• Custòdia segura i auditada, amb accés immediat al teu actiu si el necessites.
• Tracte personalitzat, amb acompanyament expert, no simples processos automàtics.

Invertir en or avui significa protegir el valor dels teus diners en un entorn on tot fluctua… menys el que és real. És una forma de diversificar amb seny, de refugiar-se sense renunciar al control, i de construir un futur sòlid sobre un actiu que ha resistit totes les crisis conegudes. L’or no canvia. Però la manera d’accedir-hi sí. I això ho canvia tot.

Un tancament amb perspectiva

Invertir en or no és cap moda passatgera ni una resposta impulsiva davant la por. És una decisió estratègica, arrelada en la història i avalada pels fets. En un món on la confiança en les institucions financeres es veu sacsejada, on les polítiques monetàries són cada cop més intervencionistes i on el valor dels diners es dilueix any rere any, l’or emergeix com una de les poques certeses tangibles que queden.

Aquest metall no promet rendiments espectaculars a curt termini. No ven la il·lusió d’un enriquiment ràpid. El que ofereix, però, és una forma sòlida de conservar valor, de garantir independència financera i de resistir els embats que ja estan transformant el sistema econòmic global.

Mantenir una part del teu patrimoni en or no és una aposta, és una assegurança. És blindar els teus estalvis davant escenaris que escapen al teu control: inflació desbocada, caigudes borsàries, crisi de deute sobirà, pèrdua de poder adquisitiu o canvis geopolítics imprevisibles.

A més, fer-ho ara, en un moment en què els bancs centrals acumulen reserves i el mercat consolida una tendència alcista, és actuar amb anticipació. No quan tot s’enfonsa, sinó quan encara tens marge per decidir.

Per això, si estàs pensant en com protegir el que has guanyat amb esforç, si no vols deixar els teus estalvis exposats a riscos sistèmics i vols començar a construir una estratègia patrimonial amb cara i ulls, l’or mereix un espai al teu horitzó. No és una resposta per a tothom. Però potser sí que és la resposta que tu estaves buscant.

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.

In an increasingly volatile and inflationary economic context, futures trading is once again gaining prominence. Although it seems like a modern and complex instrument, futures trading is a commercial mechanism with thousands of years of history. Civilisations such as the Egyptians and Romans already agreed on prices for goods before the harvest, thus protecting themselves from future fluctuations.

Today, this system remains fully in force and sophisticated, especially in organised futures markets such as the Chicago Mercantile Exchange (CME) or Euronext. In these markets, all kinds of assets can be traded: agricultural commodities (such as wheat, coffee, sugar, or cotton), precious metals (such as gold, silver, or copper), energy sources (such as oil, natural gas or electricity), international currencies (dollar, euro, yen) as well as stock indices and other derivative financial products.

The variety of tradable assets and their standardisation make these markets an essential tool for companies, institutional investors and governments seeking to hedge against price risks, diversify portfolios or secure the supply of strategic resources.

But what exactly is a forward purchase?

A forward purchase is a contract between two parties who agree, in the present, on the price of a product or asset that will be delivered or settled at a future date. Unlike an immediate purchase, physical delivery or payment is not made at the time of signing, but later, according to the agreed schedule.

These types of transactions are carried out in regulated markets, with standardised rules that guarantee legal and financial security for both parties. To protect the agreement, both parties must deposit an initial guarantee (called a “margin”) that serves as a commitment to execute the transaction.

Long positions and short positions

In financial jargon, the terms long position and short position are fundamental to understanding how futures trading works. Taking a long position means committing to buy an asset on a specific future date; conversely, having a short position means committing to sell that asset at that time. These positions do not necessarily involve physical possession of the product—in fact, the contract is often settled before the expiry date through financial compensation.

This mechanism allows both producers — who want to secure the sale price — and industrial buyers or distributors — who want to guarantee a stable purchase price — to protect themselves against market uncertainty.

The futures contract must include all the essential information to be enforceable:

• The asset or product being traded (e.g., 1,000 barrels of crude oil).
• The specific quantity.
• The agreed price (set at the time of signing).
• The expiry or execution date.
• The form of settlement (this may be by physical delivery or by price difference).
• The place and conditions of delivery, in the event of physical exchange of goods.

This system allows conditions to be set well in advance, which is particularly valuable in sectors where prices can change radically in a matter of days.

The advantages of forward purchases

• Stability in times of inflation. In times of inflation or scarcity, forward purchases are a tool for protecting against price volatility. Agricultural companies, manufacturers, distributors, and even investors can secure today the price of a product they will need tomorrow. 
• More reliable planning. Being able to anticipate costs or revenues facilitates financial and logistical planning, reducing the risk of unforeseen events that can affect an entire supply chain.
• Agile access and moderate cost. The daily operation of futures markets ensures high liquidity and a certain ease of trading or unwinding positions. In addition, the initial entry cost (the margin) is usually relatively low compared to the total value of the contract, allowing large volumes to be traded with less capital.

But they also carry risks

Despite the obvious benefits, forward purchases are not a magic formula and carry significant risks that must be carefully considered before making any move:

• Market risk: If the actual price of the asset on the expiry date is lower than the agreed price, the buyer will have to pay more than the current value, incurring a loss. Conversely, if the price rises, and you are the seller, you may be forced to sell below the market price. This can directly impact the profitability of the transaction and, in serious cases, destabilise a company’s budget.
• Binding contractual commitment: Futures contracts cannot be broken without consequences. Once formalised, they are binding, and failure to comply with them can result in significant financial penalties or loss of the deposit. It is therefore essential to carefully assess your ability to comply with the agreed conditions before signing anything.
• Technical complexity: Futures markets are highly specialised environments. Understanding how settlement, leverage, collateral and daily adjustments work requires solid prior training. Trading without knowledge can easily lead to wrong or hasty decisions, especially if they are confused with short-term speculative trades.
• Volatility and leverage: In some cases, futures are used with leverage, i.e. trading with borrowed money or with a small guarantee for a large volume, which can amplify both gains and losses. A small variation in price can have a very large impact on the final result of the trade.

A simple example

Imagine a coffee roasting company that needs large quantities of beans every month. If it fears a price increase due to climatic phenomena or geopolitical instability, it can choose to buy coffee futures. It agrees on the price now, secures the stock, and avoids unpleasant surprises in three months’ time.

This same system is used worldwide with wheat, oil, sugar, gas, gold and even electricity.

A strategy, not a gamble

Forward purchases are much more than a financial tool: they are a risk management strategy with great potential to protect the economic stability of a company or sector. In skilled hands, they make it possible to anticipate adverse scenarios, protect profit margins, secure supply and reduce dependence on market fluctuations.

When prices fluctuate sharply —due to causes such as inflation, geopolitical tensions, logistical disruptions or droughts— this type of operation can mean the difference between surviving or losing control of costs. That is why many large companies use futures as a regular feature of their financial forecasting plans.

However, it should be remembered that they are not a gamble or a speculative game for those who do not master the field. They are a complex strategy that requires knowledge, rigour and discipline. And like any good strategy, they should not be applied blindly. It is necessary to understand them, assess their scope and adapt them to the real needs of each business or operation.

After all, futures markets offer no absolute guarantees, but they do offer something very valuable: the ability to anticipate, manage and mitigate risk in an increasingly unpredictable world.

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.

When we talk about gold, we talk about value. But not all gold is the same: what really determines its price and use is its degree of purity. And this is where two ways of measuring it come into play: carats (K) and thousandths (‰).

Although in jewellery shops we hear about 18 or 24-carat gold, in the world of investment and international trade, the most common system is that of thousandths, a much more precise measure.

What does gold purity mean?

Gold purity indicates the proportion of pure gold present in a piece of jewellery in relation to its total weight. Pure gold — that is, unmixed with other metals — is chemically known as Au and belongs to the family of noble metals. This means that it does not oxidise or degrade over time, does not react easily with other elements, and has exceptional resistance to acids.

These properties make gold a particularly valuable, rare and durable metal, but also too soft for some practical uses, such as the manufacture of jewellery or coins. For this reason, it is often combined with other metals such as copper, silver, or palladium to increase its strength or alter its colour.

Carats: the traditional measure in jewellery

The carat system divides purity into 24 parts. Thus:

• 24 carats (24 k): pure gold (100%)
• 22 carats (22 k): 91.6% gold + 8.4% other metals
• 18 carats (18 k): 75% gold + 25% other metals
• 14 carats (14 k): 58.5% gold
• 9 carats (9 k): 37.5% gold

18-carat gold is the most common in jewellery in Europe, as it offers a good balance between quality, durability, and cost. In contrast, in countries such as India and the United Arab Emirates, 22-carat gold is more common, especially for traditional pieces.

Thousandths: the standard measure in gold investment

In the field of investment and industry, a much more accurate decimal system is used: thousandths, which express the amount of pure gold per 1,000 parts.

• 999.9‰ (or “four nines”): extremely high-purity gold, used in investment bars and coins. It is the closest to real pure gold.
• 995‰: minimum standard for a bar to be considered “investment grade” according to international guidelines.
• 916‰: approximately equivalent to 22-carat gold.
• 750‰: equivalent to 18 carats.
• 585‰: equivalent to 14 carats.

At 999.9‰, it is considered pure gold on international markets. This is what we find in bars, bullion coins and other recognised investment products.

How is investment gold presented?

Investment gold is mainly traded in bars and coins. Ingots can weigh from 1 gram to 1 kg or more, although the most common formats in the retail sector are 2.5 g, 5 g, 10 g, 20 g, 50 g and 100 g.

Bullion coins are issued by central banks or official mints and combine market value with a certain collectability. Well-known examples:

• Krugerrand (South Africa): 1 ounce (ca. 38 g) of 22 k gold
• Maple Leaf (Canada): 999.9‰ pure gold
• Philharmoniker (Austria): 999.9‰
• American Eagle (USA): 22 k with a total weight of one ounce
• Britannia (United Kingdom): 999.9‰ since 2013

All these coins must be engraved with their exact weight and purity, which guarantees their acceptance on the global market.

And how is pure gold obtained?

Gold is not found in nature in its pure state, but in the form of grains, veins, or mixtures with other materials. To convert it into investment or high-quality gold, it must undergo refining processes that may include smelting at high temperatures, chemical processes with acids and subsequent purification.

This pure gold is used to make high-value ingots and coins. But in jewellery, as we have already mentioned, the purity is often deliberately reduced for technical or aesthetic reasons.

Why is it important to know the purity of gold?

Knowing whether we are dealing with 18k, 22k or 999.9‰ gold is not just a technical issue, but a guarantee of value, transparency, and security. Whether we are buying it as an investment, or whether it is a piece of jewellery or a family heirloom, correctly identifying its purity helps us to make informed decisions.

Furthermore, in a world where gold is once again gaining prominence as a safe haven in the face of economic uncertainty, knowing its real value is more relevant than ever.

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.

Es consideren dipòsits de valor aquells actius, divises i mercaderies que no es devaluen amb el temps. L’or i altres metalls preciosos han estat històricament els dipòsits de valor per excel·lència, mentre que en les últimes dècades s’han fet evidents les grans deficiències de les monedes fiduciàries.

Com indica la Investopedia, “un dipòsit de valor és essencialment un actiu, mercaderia o divisa que pot guardar-se, recuperar-se i intercanviar-se en el futur sense que es deteriori el seu valor” quan l’intercanviem per productes o serveis: si avui equival a deu pomes, passat un temps haurem de poder intercanviar-lo per, com a mínim, deu pomes també.

L’or i altres metalls preciosos han estat considerats al llarg de la història els dipòsits de valor per antonomàsia perquè la seva vida útil és pràcticament il·limitada. I, si comprovem l’evolució del preu de l’or en les últimes dècades, veurem que una unça ha passat de cotitzar per sota dels 300 dòlars quan va entrar en circulació l’euro l’any 2002 a superar els 1.900 dòlars en l’actualitat.

En l’altre extrem, productes peribles com les pomes són pèssims dipòsits de valor perquè en pocs dies es descomponen i perden tot el seu valor. Tot i que determinats productes bàsics com els aliments poden pujar de preu temporalment en funció de la situació del mercat, el seu caràcter perible impedeix considerar-los dipòsits de valor.

Els diners moderns suspenen com a dipòsit de valor

Òbviament, l’euro i la resta de les monedes fiduciàries són dipòsits de valor molt deficients perquè no es revaloren al mateix ritme que els productes i serveis que permeten adquirir. Encara que les nostres monedes haurien de ser un dipòsit de valor raonablement estable, la inflació fa que el cafè que fa uns anys compràvem en un bar per un euro avui dia ens costi bastant més. Els nostres diners es deprecien dia rere dia.

Richard Nixon va posar fi al patró or l’any 1971, que fins llavors obligava als països del Fons Monetari Internacional (FMI) a mantenir un tipus de canvi fix respecte al dòlar i a la Reserva Federal dels Estats Units a recolzar la seva divisa amb or. Des de llavors, utilitzem monedes fiduciàries, és a dir, monedes que són de curs legal però que no estan recolzades per cap bé valuós. Tots els bancs centrals poden fabricar diners segons la seva conveniència i el seu únic aval és la confiança dels ciutadans.

Com és lògic, si la quantitat de diners en circulació augmenta a un ritme més elevat que els béns i serveis que es poden adquirir amb ells, el desequilibri entre l’oferta i la demanda fa que s’apugin els preus. Per tant, els nostres diners es devaluen.

Una moneda raonablement estable és essencial per a la salut de l’economia. Una unitat monetària que funciona malament com a dipòsit de valor desincentiva l’estalvi i dificulta el comerç. Els seus efectes nefastos són evidents si donem un cop d’ull als casos d’hiperinflació que han viscut alguns països al llarg de la història.

Els metalls preciosos com a valor refugi

Al llarg de més de dos mil·lennis, moltes economies han utilitzat l’or i altres metalls preciosos com a moneda de canvi per la seva durabilitat, relativa escassetat i fàcil transport. A més, en les últimes dècades l’or ha tingut un paper important com a valor refugi. La seva demanda ha tendit a disparar-se en moments d’incertesa econòmica, com demostren les dades de l’any passat, el de major demanda des de 2011. La llarga experiència amb l’or permet avalar la seva capacitat per exercir com a dipòsit de valor a llarg termini.

En general, altres actius com els béns immobles, les obres d’art, les antiguitats o alguns objectes de col·lecció també han demostrat que poden tenir aquest rol. Tot i que el seu valor pot caure en moments puntuals, tendeixen a revaloritzar-se a llarg termini gràcies a una demanda més o menys constant i una oferta molt limitada.

El seu gran inconvenient respecte a l’or és que es tracta d’actius molt poc líquids: és difícil vendre’ls de manera immediata si volem fer-ho per un preu raonable. A més, aquests mercats exigeixen un bon coneixement i es ressenten especialment en les crisis econòmiques, quan més es tendeix a recórrer als dipòsits de valor.

I els criptoactius?

Més difícil és valorar si els criptoactius arribaran a considerar-se algun dia com a dipòsits de valor, ja que són massa recents. És cert que el bitcoin es basa en el principi d’escassetat, una característica pròpia dels dipòsits de valor: cada any es genera un número limitat de bitcoins i existeix un topall predeterminat. No obstant això, com tants altres criptoactius, el seu gran inconvenient és que manca d’un valor intrínsec. Gairebé tot el seu valor és ara com ara subjectiu, la qual cosa és terreny adobat per a la volatilitat.

Això sí, en la mesura que el bitcoin sigui acceptat de manera massiva com a mitjà de pagament i s’empri en un nombre creixent de transaccions, el seu valor s’enfortirà i augmentaran les probabilitats que arribi a ser un dipòsit de valor a llarg termini, més enllà de volatilitats puntuals.

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.

Is it safe to buy gold and why do investors choose to buy it? In times of economic instability, when the financial system and the global economy are faltering, buying gold makes more sense than any other asset. Sara Casals, from the 11Onze product team, explains why.

“Gold continues to be the safest bet for protecting our savings and even for making a profit,” Sara Casals says. This explains, according to the product team expert, why gold has represented a very important part of the strategic reserves of central banks for many years. “It must be made clear that when we talk about security in the purchase of gold, we are talking about physical gold, and not as an investment in digital funds or through funds or shares in the mining sector,” Casals clarifies.

Physical gold, he says, will always have value and will survive the passage of time. “Gold is a safe haven because of its ability to preserve wealth,” the product team member says. Therefore, when inflation is expected to rise, one of the preferred assets is gold, which is also highly liquid. Want to know more about it? Just watch the video below.

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.

El paper de l’or com a actiu indispensable per diversificar i reduir el risc d’una cartera d’inversions enfront de la incertesa econòmica està més que demostrat. Tanmateix, segons una anàlisi feta pel Consell Mundial de l’Or, la seva capacitat de proporcionar rendibilitat a llarg termini és més elevada del que generalment se sol assumir.

Encara que generalment es percep com una opció conservadora per reduir el risc de les nostres inversions i que la seva funció principal és la de dipòsit de valor, un informe elaborat pel Consell Mundial de l’Or (WGC) conclou que les anàlisis tradicionals dels rendiments de l’or deixen de banda alguns factors importants que revelen una rendibilitat a llarg termini millor del que se sol pensar.

Segons el WGC, existeixen marcs per a estimar la rendibilitat de l’or a llarg termini, però manquen d’un enfocament sòlid que s’ajusti a les hipòtesis del mercat de capitals per a altres classes d’actius. Aquestes estimacions estan estretament correlacionades amb el nivell general de preus mesurat per l’índex de preus de consum (IPC). D’acord amb aquesta premissa, la rendibilitat esperada de l’or a llarg termini sol oscil·lar entre el 0% i l’1%.

No obstant això, l’anàlisi feta per l’organisme conclou que, si bé els estudis existents són rics en informació, amb freqüència es basen en dues pautes que, en la seva opinió, “caracteritzen erròniament a l’or i han portat a conclusions esbiaixades”. 

El Patró Or i la inversió financera

Per començar, gairebé tots els models utilitzen dades de períodes amb patró or. Tot i que el Consell Mundial de l’Or accepta que per norma general és millor tenir tantes dades històriques com sigui possible, en analitzar els preus de l’or, la cronologia més llarga esbiaixa les dades perquè durant la major part del segle XX el preu de l’or el fixaven els bancs centrals.

“Encara que el seu rendiment històric durant els períodes del Patró Or és una referència interessant, el més important és la seva estructura de mercat i el seu comportament després de 1971”. Per tant, a fi d’evitar aquest biaix, l’organisme utilitza dades a partir del 1971 per fer la seva anàlisi. 

L’altre factor que pot provocar que l’anàlisi del comportament a llarg termini de l’or sigui poc fiable és que els models solen assumir que la inversió financera impulsa gairebé exclusivament la demanda, ignorant altres factors importants d’aquesta. Segons l’estudi, la inversió financera representa un percentatge relativament petit de la demanda en relació amb les reserves d’or existents, mentre que altres fonts són més importants a llarg termini.

En conclusió, fent servir aquest model revisat que proposa el Consell Mundial de l’Or, la rendibilitat de l’or ha estat molt millor en els últims cinquanta anys del que suggereixen les anàlisis convencionals, amb una mitjana anual del 8%. El mateix model preveu una rendibilitat mitjana anual del 5,2% durant els pròxims quinze anys.

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.

Preciosos 11Onze has physical gold in stock and, to welcome the summer, is launching Precious Days. Buy gold on special terms, while stocks last.

For 15 days, Preciosos 11Onze offers its gold in stock with exclusive conditions. During this period, you can buy gold free of any handling fees.

There are also added advantages for both ways of buying physical gold, leaving it in custody or receiving it at home. For those who want to leave the gold in custody, they will be able to do so without having to pay the custody fee for the first year, while those who want the gold delivered to their home will receive it without having to pay the delivery costs with security personnel.

These offers are in addition to the fact that Preciosos 11Onze offers gold at a very competitive price compared to what can be found on the market, since it has a secondary market for the sale and purchase of gold within its community. This campaign will run for 15 days, or until stocks last. To contact the Preciosos 11Onze team, please follow this link.

Physical Gold: The golden refuge in times of geopolitical turmoil

The price of physical gold, the tangible asset that has fascinated mankind for millennia, continues to break records. In one year, it has risen from €69 a gram to around €95, an increase of 40% in value, and there is no sign that the surge will abate. The golden metal is living a golden age thanks to an explosive cocktail of geopolitical instability, inflation fears and the frantic search for safe assets by investors and central banks.

The world is a powder keg. The conflict in Ukraine enters its fourth year, with tensions continuing to escalate. Israel’s Gaza conflict, coupled with attacks on Iran, have raised the risk of a wider regional conflagration in the Middle East. This, added to rising tensions between the US and China triggered by Donald Trump’s tariff war, and political uncertainty in many regions, has led to a flight to safety.

Historically, gold has been one of the best long-term inflation safeguards. Although inflation has moderated in recent months, the World Bank has warned of the risks of commodity price volatility and persistent inflationary pressures in a fragmented geopolitical environment. It is at this time that the purchasing power of fiat currencies declines and the value of gold tends to rise, states a report by the International Monetary Fund (IMF) analysing the effectiveness of inflation hedges. Thus, given the aforementioned geopolitical tensions (affecting energy and commodity supply), persistent supply chain pressures and high levels of public debt, many economists fear a new inflationary episode.

A shiny metal in a dark world

The unstoppable rise in the price of physical gold is a clear symptom of the times we live in: a world full of tensions, uncertainty, and fear of the loss of the value of money. The lethal combination of armed conflict, great power rivalries and the persistent threat of inflation make the golden metal a safe-haven of choice for both major central banks and individual investors seeking to protect their savings. Until the geopolitical and economic storm subsides, physical gold still shines as the most solid anchor in a turbulent sea. In this context, its acquisition has to be seen as part of a wealth protection strategy. It is therefore no longer an exotic option but an increasingly common measure of financial prudence.

If you would like to take advantage of the Precious Days to protect your savings, get in touch with our team at Preciosos 11Onze.

Gold is traditionally regarded as the best asset for inflation protection, a reliable hedge against the risk of losing purchasing power. However, some investors see government bonds as a safer alternative to invest their money in the face of market uncertainty. We analyse the advantages and disadvantages of these two options.

Gold purchases over the past three years have had a stellar performance with record highs for investors and have seen a 40% rise in value. The safe-haven status generally attributed to gold has been confirmed by the uncertainty caused by the pandemic and subsequent inflation, which has penalised the performance of other assets. Once again, gold has provided a valuable hedge against an uncertain future.

Some economists argue that gold only increases in value when a currency is devalued or in a context of high inflation, and that it does not offer adequate returns in other market scenarios. While it is true that gold tends to increase in value in times of financial instability or currency devaluation, these are not the only factors that increase its valuation above average. For example, in the period from 2013 to 2020, inflation was very low, and the most damaging effects of the crisis and economic instability had already been overcome in much of the world, yet the value of gold rose steadily.

Even so, we have to bear in mind that, if we choose to invest in gold through an investment fund or ETF, we will not own the precious metal, which means it loses much of its intrinsic value, and it is a model that gives more versatility, but requires basic stock market knowledge that requires professional intermediaries in the sector. When you buy physical gold, you own the metal, whereas when you invest in digital gold, you have a right or an option. Moreover, because it is not a book entry, you cannot suspend payments. Unlike other financial assets, gold can always be on hand.

Government bonds

The biggest attraction of buying government bonds is that we are assured of a certain return, positive or negative, on the investment. This may seem contradictory, because historically, when someone lends money to someone else, they charge them interest, and therefore it may seem difficult to understand why some bonds are trading with a negative return.

This apparent inconsistency is due to the fact that some large investors seek safety in safe-haven assets, such as government bonds, during times of financial market turbulence. The 2008 crisis, with the collapse of Lehman Brothers and other banks, showed that the Deposit Guarantee Fund, which in Spain covers 100,000 euros per customer and institution, is nothing more than a consolation prize if we are talking about deposits of millions of euros.

Therefore, when we are talking about investment groups with large amounts of money, it may be preferable to buy bonds from countries with the highest credit rating (AAA), even when they offer a negative yield, since, unlike banks, this guarantees us pretty much all of our assets. Still, there may be a speculative motive: buying debt with a negative yield in the expectation that this yield will fall further so that the price of the bonds will rise.

This is a scenario that is hardly applicable to the medium or small investor, who tends to buy securities issued with a nominal value and which pay an explicitly determined interest on the investment, quarterly, every six months, or at maturity. And yet, they can also be traded on the stock market to offer investors the possibility to sell or buy before their maturity.

Security and profitability

Before investing, there are many factors to consider when deciding which financial asset is most suitable for us. And it is vital to assess the risk we are willing to take and to clearly define our investment objectives. As a general rule, the higher the return on an investment, the higher the risk. Conversely, if we want a very safe investment, we will have a low return.

Precious metals, especially gold, break this rule somewhat, with very high returns in times of economic crisis, given their status as safe-haven assets, and relatively stable prices when there is less demand in times of economic growth. But they always maintain a long-term upward trend, which is also accompanied by high liquidity thanks to their intrinsic value.

On the other hand, the risk-return trade-off is evident when it comes to government bonds. Fixed income securities issued by governments are considered risk-free as long as we are talking about developed countries with solvent economies, and with a practically non-existent probability of defaulting on payments to creditors. Even so, they are always accompanied by relatively low or even negative yields in the case of Germany.

This low yield can be affected by inflation, if we take into account that the coupons paid on fixed income are nominal over time. Therefore, when inflation rises, their real value falls and the return on these bonds is also lower. This is a scenario in which the purchase of gold offers better inflation protection, thanks to a higher yield, while maintaining high security and liquidity. If you are interested in buying gold, 11Onze will help you do so starting next week.

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