Last Saturday, the price was at 1922 euros, on Wednesday it rose to 1960 euros, and now it's already at 1983 euros. In a matter of days, the value of gold will surpass 2000 euros for the first time in its history. The enthusiasm surrounding the precious metal is perplexing.
The global increase in interest rates is detrimental to the price of gold. Its value theoretically rises more when other asset classes become less profitable, which is why gold is often considered a safe haven during economic crises and high inflation, when stocks, for example, yield minimal profit. However, with the rise in interest rates, the returns on investment vehicles such as bonds and even savings accounts have also increased - perhaps not to the extent of gold's price, but still sufficiently attractive for the average investor.
But also the Bitcoin reached a high mark. The value surpassed 1.44 trillion dollars, more than all the silver ever mined. Do you think the btc will also surpass the gold mark in the next 4/5 years?