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Investors are investing effective in gold funds to the fastest rate from the Covid-19 pandemic, amid increasing concerns about the economic impact of the tariff war of the president of the United States, Donald Trump.
Gold reached a record of $ 3,148.88 per ounce of Troy on Tuesday, obtaining profits this year to 19 percent, including its strongest quarterly performance since 1986, as part of a broader flight to shelter assets, as US treasures. UU. And effective.
Investors are preparing for new expansive tariffs of Trump, which will be announced on Wednesday, one day that has called “day of release.” Many economists fear that the movement will reach global growth, which causes a search for safe assets.
“Uncertainty is one of the main factors that has led to a renewed interest in gold,” said Krishan Gpaul, a senior analyst at the Gold Council World Cup, an industry agency. “There is a general feeling of market risk at this time.”
In the midst of the growing fears of a global commercial war, investors have poured more than $ 19.2 billion in negotiated funds backed by gold during this year’s first quarter, the largest tickets in terms of dollars from the pandemic, according to Standard Chartered’s calculations.
The amount of cash in investor portfolios, seen as a caution meter, increased by the largest monthly amount in five years, according to a recent fund manager survey by Bank of America.
Treasury bonds have also achieved profits in the period prior to the announcement of rates, since investors seek to protect against greater volatility and coverage against risks to the economy of the United States.
Ten -year -old treasure yields, which move inversely to prices, fell below 4.14 percent on Tuesday, not far above their lowest level of the year.
The yields in German Bunds, seen as the asset of the Haven Eurozone, were sent very high last month, since the country planned a great cost campaign, but backed down below 2.7 percent this week for the first time since the beginning of March.
“With a deceleration of the United States of its own harvest that potentially develops behind the holders of the rate, government bonds are seen [like] Attractive risk reducers at this point, “said Sunil Krishnan, Chief of Multiple Assets of Aviva Investors.” Gold is difficult to add, given the force of movement. “
The purchase of the Central Bank has been the main driver of gold purchases in recent years, but the recent increase in Golden ETF tickets highlights how fears on the economy and stock markets have attracted in a broader range of investors as part of a search for assets for paradise.
“The resurgence in ETFs has been the most notable change in gold dynamics in recent weeks,” said Suki Cooper, Stanchart’s precious metal analyst. The lower performance expectations in other assets, combined with concerns that tariffs could affect inflation and growth, have helped feed recent flows, he said.
The acute Rally of Bullion in recent months has led several banks to increase its gold prices forecasts, including Macquarie, which now expects it to touch $ 3,500 this year.
Tariff concerns have also driven a great increase in physical gold bars that take New York, where CEMEX reserves have reached record levels, although that flow has recently begun to decrease.
In Wall Street, defensive actions considered less exposed to economic growth have prospered. Medical care actions such as Unitedhealth and HCA Healthcare rose more than 10 percent during the past month, while the wider S&P index has dropped almost 6 percent.
“Very few assets are appearing as attractions on our screens at this time,” said Pete Drewienkiewicz, investment director of the Global Assets of the Redington Consulting. “So I don’t think it’s surprising to see people move a little more defensive after such a good career [for markets]. “
