The current financial policy of the American authorities undermines the confidence in the dollar
The price of gold on the world market exceeded the record value of 2,000 dollars over the weekend, but for now only in futures contracts. Gold thus surpassed the record from September 2011, when its value was $ 1,917 per ounce of 31.1 grams. At the end of the week, the price of gold was 1,976 dollars, which is 4% more than the previous week. There is a great demand for physical gold, especially in Germany, where there has always been a great fear of inflation. According to the World Gold Council, the Germans bought 83.5 tons of gold in the first half of this year, which is ahead of the Chinese.
Already in the first quarter, demand doubled, and such trends continued in the second quarter. Investments in gold have attracted many new buyers who want to protect at least part of their assets from the inflation they expect due to the wild printing of central bank money. The investment bank Goldman Sachs announced that the current financial policy of the American authorities undermines the confidence in the dollar and forces investors to buy gold as actively as possible. The bank predicted that the price of gold would rise to $ 2,300 per ounce this year. Last week marked the growth of other investments that are considered a safe haven, so bitcoin approached the value of 12 thousand dollars and recorded a weekly growth of 21 percent, stopping at 11,665 dollars.