Gold could well rise in value. Should we therefore expect a repeat of the rush to the west? It is clear that the yellow metal remains a safe haven for many savers. With demand increasing steadily in recent months, its value has taken 7.5% and stood at 1,935 dollars per ounce in May 2022, informs the Journal du Net. This does not necessarily mean that it is necessary to invest, however judges Philippe Crevel. The economist, former secretary general of the Cercle des Savers and now director of the Cercle de l’Epargne, is categorical.
“Gold is not an investment like any other. It is therefore not comparable with the livret A or life insurance: it is not a financial investment, it cannot be assimilated to shares or bonds”, alert from the outset l expert who does not hesitate to compare gold to crypto-currencies. “History has made gold a monetary standard and it therefore enjoys a symbolic value, a refuge. That being said, it must be remembered that it does not produce interest and that its only financial value is speculative”, he insists.
“Some people invest in gold precisely because it is a safe haven. However, remember that in 1979, the oil shock caused the value of gold to drop considerably for 20 years. Therefore, we must not lose sight of the fact that the risk exists. Gold is and remains the investment of fear, of the end of the world. It is not a rational investment”, asserts the economist.
Alternatives exist, judges the director of the Cercle de l’Epargne. “If it is a question of securing your savings, it is appropriate to opt for guaranteed investments such as the livret A or life insurance… Which unfortunately does not bring in much. To earn more, you will have to take more risks and go into real estate. In either case, the best solution is to diversify your savings to make sure you don’t lose everything in the event of a problem,” he explains.