Share
H latto continues to rise in price against the background of general uncertainty due to the conflicts in Ukraine and the Middle East. On Thursday afternoon, the troy ounce hit $2,320 on global markets, with the upward trend continuing.
If we go back in time, we will see that in 2020 the metal traded for around $2,000, and in 2010 its price was around $1,200.
Active
“In recent months, gold has proven its irreplaceability as an asset with the highest degree of security,” top financier Biser Manolov commented specially for “Telegraph”. According to him, the biggest central banks are increasing their stocks of the precious metal. The trend cannot change downwards, but rather the price increase will continue, and it is possible to reach 4,000 dollars per troy ounce. It cannot fall, Manolov emphasized.
Bulgaria is in a leading position in Europe for the purchase and ownership of investment gold after Germany and Poland, which are traditionally serious buyers of the metal, scalded by high inflation and hyperinflation, analyst Max Baklayan, executive director of Tavex, pointed out recently. According to him, the Bulgarian already understands the benefits of investment gold and that he should have physical investment gold in his portfolio because of its anti-inflationary effect.
Forecast
The current interest in investment gold is because it remains a major hedge against inflation and economic and geopolitical upheavals.
“Gold could easily reach $4,000 per troy ounce and surpass it.” If we take a historical average of 15 times less, silver could even reach $200,” Baklayan said, warning that silver remains a riskier investment.
Silver is the second most traded commodity globally after oil, it is also a monetary financial metal, historically this metal has been used by every major empire, starting with the ancient Greeks and reaching America in the 20th century.
The combination of decreasing supply, increasing industrial and monetary demand, its recycling in very small volumes and last but not least the fact that most mines extract silver as a by-product lead to the conclusion that very soon silver will mark a new price record, emphasizes Max Baklayan . He points out that in Bulgaria the demand for silver has increased 10 times over the last year.
