{"id":51032,"date":"2024-07-09T17:00:00","date_gmt":"2024-07-09T15:00:00","guid":{"rendered":"https:\/\/www.11onze.cat\/?p=51032"},"modified":"2024-07-11T16:44:34","modified_gmt":"2024-07-11T14:44:34","slug":"gold-goes-up-first-half-year","status":"publish","type":"post","link":"https:\/\/www.11onze.cat\/en\/magazine\/gold-goes-up-first-half-year\/","title":{"rendered":"Gold goes up 12% in the first half of the year"},"content":{"rendered":"
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During the first six months of the year, gold has outperformed most major investment asset classes, continuing the upward trend of 2023. Its price has reached record highs and has risen by 12% since the beginning of the year, cementing its reputation as a safe-haven asset in times of economic uncertainty.<\/b><\/h3>\n

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Global gold demand (including OTC purchases) marked <\/span>the strongest first quarter of the year since 2016, rising <\/b>3%<\/b><\/a> year-on-year to 1,238 tonnes<\/b>. This strong performance was driven by persistent central bank buying in the face of geopolitical and economic uncertainty, investment in the OTC market, and increased demand from Asian buyers that pushed the gold price to a record average of \u20ac1,934 per ounce.<\/span><\/p>\n

In mid-May, it reached <\/span>another all-time high of 2,259 euros per ounce<\/b>, surpassing the previous record set in April, as the Federal Reserve (Fed) looked ahead to an expected rate cut, while the European Central Bank (ECB) made its cuts amid a stronger US dollar.<\/span><\/p>\n

High global interest rates and a strong US dollar are often seen as a hostile environment for gold <\/b>that has probably prevented its value from rising by even more than the 12% achieved since the beginning of the year.<\/span><\/p>\n

In its <\/span>analysis<\/span><\/a> of gold’s performance in the first half of the year, the World Gold Council (WGC) believes that in the current economic context, “<\/span>these factors have been offset by more dominant ones<\/b>“, from continued central bank buying to strong Asian investment and resilient <\/span><\/p>\n\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n\n

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