Gold and Silver: Strong Partners in Uncertain Times
Gold and silver have strengthened their positions as safe asset classes in the recent past, supported by supply shortages and the increased need for security among investors. Here are some key points that shed light on the current situation of gold and silver:
Gold
- Price Development: Gold recorded an increase of 3.7% in the last week, indicating the growing interest from private investors and savers. The current price is about $3,311 per ounce.
- Role as Crisis Currency: Gold is traditionally regarded as a safe asset class, as it often serves as a value anchor in times of economic uncertainty.
- Investor Interest: The increased interest in gold is a sign that investors are seeking stable assets to protect themselves against economic fluctuations.
Silver
- Price Development: Silver achieved an impressive increase of 9.0% in the last week, indicating its growing attractiveness as an asset class. The current price is about $32.37 per ounce.
- Forecasts: A consolidation phase is expected for 2025, with price fluctuations between $29.80 and $36.91. Long-term, the silver price could rise to $73.33 by 2030.
- Areas of Application: Silver is not only used as an asset class but also in industry, which increases its demand and influences the price.
Similarities and Differences
- Need for Security: Both gold and silver benefit from the increased need for security among investors, as they are seen as safe investments in times of economic uncertainty.
- Supply Shortages: Both metals can benefit from supply shortages that can support their prices.
- Diversification: While gold is primarily used as a value investment, silver also has industrial applications, which influence its price development.
Overall, gold and silver show their strength as strategic asset classes that are particularly attractive in times of economic uncertainty.