Once is not custom, gold has not benefited Monday from its role as a safe haven. Investors seem to have the contrary "relieved" of their investment in the precious metal to cover losses in other markets. By mid afternoon, the price of an ounce of gold was trading around 1820 dollars, while prices went up Friday to 1885.90 dollars.
On Tuesday, gold had even reached a record high of 1921.15 dollars. A surge that has allowed some to reap serious benefits and allowing them to absorb the consequences of their unfortunate investments.
Let us recall that an ounce of gold was still up 15% in a month. The surge in gold is also hampered the last few hours by the renewed strength of the dollar, the greenback Monday reaching its highest level in six months against the Euro. A situation that makes it less attractive raw material purchases denominated in U.S. currency.
Still, the phenomenon could be a passenger, uncertainties regarding the euro area accentuated a little more each day. It should be noted as well as the largest gold funds listed globally, SPDR Gold Trust, saw the level of its holdings increase by 10.5 tons during the single day of Friday to reach 1,241 tons now.
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