They It is confirmed on the maximums of all times to the resumption of discussion on international markets, to a whisker from $ 3,000 the ounce. A roof that the precious metal could easily break through shortly, thanks to its nature as a good refuge, fueled by geopolitical tensions and the commercial war between the USA and China, which have made the demand relentlessly, well beyond the records reached in 2024. The future on the gold exchanges this morning a 2,916,21 dollars, New maximum of all time, while the spot price has stood at 2,891.63 dollars (+1%).
The “Pilot” program of China
There China announced a last Friday “Pilot” program for the insurance sector, which will allow companies to invest beyond 27 billion dollars in gold, with the aim of allowing them to diversify Investments. According to the National Financial Regulatory Regulatory Administration, the move aims to expand the channels through which insurance funds can be used, optimize the allocation of activities insurance and improve the management skills of the activities and liabilities of insurance companies.
Thanks to the plan developed by the Chinese authorities, Ten insurance companies including the two major – Picc Property & Casualty Co. and China Life – will be able to invest up to 1% of their assets In gold coins (gold spot) purchased at the Shanghai Gold Exchange or in fixed -term contracts (future) and swap. This translates into a potential investment to the medium-long term of the value of 200 billion yuan, equal to 27.4 billion dollars. The plan announced by Beijing will be translated into a strong increase in the demand for gold, which had already gone in 2024, due to international tensions.
Question peaks in 2024
Meanwhile, the request of gold touched a peak in 2024according to the latest statistics of the World Gold Council, attesting to 4,974 tons, After reporting a record growth of 1% in the fourth quarter. A question mainly pushed by central bankswho purchased last year 1,000 tons of gold, but the demand for investments is also growing, which has reached 1,180 tons (+25%). The demand for gold for jewelry was reduced by 11% to 1,877 tons and this is because the price of the raw material has grown. In fact, the value of jewelery expenditure rises by 9% to 144 billion dollars.
Bank of England confirms retreat increase
There Bank of England Last week he confirmed that he received a strong demand for collection of physical gold in recent weeks, but has denial the voices that spoke of a resetting of the reserves in gold. The reserves – specified Deputy Governor Dave Ramsden – have fallen by about 2%, reiterating that the Boe is able to cope with this increase in demand, albeit with a lengthening of delivery times, and instead, instead of rumors that They spoke of an exhaustion of the reserves.
“What is happening must be framed in the context of what is happening in the global economy”, explained Ramsden, noting that “the US physical gold market offers an overezzo with respect to that of London” and therefore operators are trying to “Get advantages from this differential”.
