The stock price quote for gold, so-called royal metal is as high as PLN 7,000 per ounce, Bartosz Turek, chief analyst at HRE Investments assessed. According to him, this is the most expensive price in history. Reason? An epidemic, the fears about the global economy or inflation in the face of support programs counted not in billions but in billions of dollars. Physical gold available in the form of bars or coins is even more expensive. You have to pay almost twice as much as a year ago.
Only in the last month has an ounce of gold increased by almost PLN 700 (over 10 percent). However, in reality it is even worse. If someone would like to physically buy a gold coin, then they must prepare for a much higher expense – over PLN 8,000. What's more, if someone does not want to obtain ore from a reliable source, and at the same time does not want to wait for delivery a month or two, then they have to pay even more – about PLN 1,000.
In recent weeks, the ore owes its streak to coronavirus. This is not just about the threat of infection, but the economic impact of the epidemic. Isolation of the population is a blow to economies. In response, central banks and governments have decided to launch stimulus and protection programs, which are worth billions of dollars. It is worth adding that the trillion has 12 zeros or twice as much as a million. In the face of the additional risk of inflation, we are facing a situation in which gold is gaining value as a safe haven for capital. Treasury bonds and real estate are also similar havens. Unfortunately, the data on demand for the latter will wait much longer than in the case of gold.
(WBJ)
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April 14, 2020 at 12:42AM
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Gold expensive as never before: HRE - Warsaw Business Journal
"expensive" - Google News
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