Gold, a profitable safe haven?

Gold is more than ever an investment star. It has been shining for five years and reached historic highs, above $ 1,700 an ounce. The precious metal is still considered the safe haven in troubled times. But should we trust its anxiolytic virtues? Let us remember that the evolution of the price of gold depends on supply, but above all on demand. Or rather requests, independent of each other.

The jeweller’s is the main historical demand for gold, a particularly active sector in India and China. The year 2020 nevertheless marked a turning point, with a 50% drop in orders from this sector. A return to normal after the Covid crisis could therefore have a positive effect on the price of gold.

Dental gold represents 10% of global demand. This traditional practice, gradually replaced by the use of ceramics and composite materials, should tend to decrease in the long term.

Central bank reserves were formed from 2010, a

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