The gold price is unstoppable. There are currently many reasons why precious metals are attractive to investors as a stable investment. .
Dax current: Dax oscillates around the zero line – gold price in euros at a new record high
Bank of America
Dax current: Dax closes in the profit zone – Wirecard more than eleven percent up
The leading German index continues to rise. Investors mainly rely on Wirecard. According to news of the manipulation allegations, the payment service provider’s stock benefited. .
Dax current: Dax remains in the red – gold price in euros at a new record high
The gold price is unstoppable. There are currently many reasons why precious metals are attractive to investors as a stable investment. .
Gold price rises above 1600 euros for the first time
Gold bars and bullion coins
Frankfurt The gold price reached a new record high in euros on Thursday. For the first time, the price for one troy ounce (31.1 grams) exceeded the 1600 euro mark. In the meantime, it was up to 1603 euros. Gold was traded in US dollars at $ 1,725. The record high of $ 1900, reached in 2011, is still a long way off.
Gold demand is driven above all by the high level of uncertainty surrounding the corona pandemic. Gold is considered crisis protection for some investors. In addition, there is a surge in debt at the state level – a consequence of the massive countermeasures to contain the pathogen Sars-CoV-2.
Some forecasters therefore expect inflation to rise in the medium or longer term. Gold is also popular as a hedge against inflation. A number of banks and asset managers have therefore adjusted their gold price forecast upwards in recent days and weeks.
On Thursday, the gold price also broke out of a rather atypical pattern that has dominated the precious metal markets in recent weeks. As Carlo Alberto de Casa, chief analyst at the brokerage firm ActiveTrades, observes, gold has recently moved in line with the stock markets.
Silver hardly benefits
With stronger selling waves on the stock exchanges, the gold price came under pressure. Gold prices, on the other hand, rose when investors also bet on stocks. In the past, the gold price had developed in the opposite direction to the share price.
From de Casa’s point of view, the current level of gold prices is favorable for a continuation of the price increase. The round $ 1,700 mark has skipped the precious metal significantly. “That could open the room for another rally.”
In contrast, the silver price has not kept pace. The much-noticed gold-silver ratio, i.e. the value of one ounce of gold, expressed in silver ounces, is again close to the record high. Currently, an ounce of gold costs as much as 113 ounces of silver. Therefore, from the analysts’ point of view, silver is the Bank of America (BofA) undervalued.
“Silver prices of around $ 15 an ounce are difficult to justify,” they write in a study published on Thursday. The investment demand for silver has recently picked up again. Both physically deposited index funds as well as silver coins and bars have recently been in greater demand. BofA analysts are therefore convinced: “Silver could rise to up to $ 20 an ounce in the next twelve months.”
With agency material.
More: Why gold index funds benefit from the lack of bars and coins.
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Dax current: Dax remains in the red – Wirecard shares rise by more than five percent
There are increasing voices that share prices will soon collapse again. The numbers in the “Big Five” stocks may be causing new turmoil. .
Dax current: Dax increases its losses – Wirecard shares increase by more than five percent
There are increasing voices that share prices will soon collapse again. The numbers in the “Big Five” stocks may be causing new turmoil. .
Corona crisis reveals deficits in German asset managers
Frankfurt In the past decade, the framework conditions for asset management have been downright paradisiacal. In the “Goldilocks” scenario – where the conditions are fairytale-like – the stock markets hurried to new records, wealth continued to grow, and interest rates close to zero fueled the boom. With the corona pandemic, the brakes came on.
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Ten major banks are accused of manipulation of the corporate bond market
new York A US lawsuit accuses ten of the world’s largest banks of manipulating the corporate bond market. According to this, the money houses – including Deutsche Bank – have been asking for high prices for almost 14 years, as can be seen from court documents on Tuesday. As a result, investors were financially damaged.
The accused financial institutions include JPMorgan Chase, Bank of AmericaBarclays Citigroup, Credit SuisseDeutsche Bank Goldman Sachs, Morgan Stanley, Royal Bank of Scotland and Wells Fargo. Bank of America, Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs and Wells Fargo declined to comment.
More: Ex-top manager of Deutsche Bank sentenced to prison.
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Alternative Investments: Return in Corona Times: How to Make Money Now
Fluctuations on the stock exchanges are extreme due to the Covid 19 pandemic. But there is a way out: alternative investments. The Handelsblatt presents them. .
Gold, hedge funds, real estate: Yield in Corona times: With which investments you can now earn money
Fluctuations on the stock exchanges are extreme due to the Covid 19 pandemic. But there is a way out: alternative investments. The Handelsblatt presents them. .