Leading the way in precious metals
A decent period for the yellow metal again. It recorded a price increase of approximately 2.8% until the end of February, and with 1,260 /oz climbed to the highest level since November 2016. This increase did not go unnoticed by investors in the Euro area either, where gold also reached a 3.5-month high with a rise by more than 26 €/oz to 1,190 €/oz. Several price drivers can be held responsible for this move. The debate on the US's nuclear rearmament, the continuing uncertainty regarding US domestic and foreign policy as well as the Fed's agreement regarding the timing of the next rate hike in the Dollar zone are all lending support to gold. But investors are convinced that the rate hike is forthcoming. Which don’t have to be that negative for gold. Even after last-years rate hike gold performed quit well.