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Innehållsförteckning / Table of Contents
The year 2020 has been a remarkable year and it has turned out quite differently than planned. The Covid-19 pandemic increased uncertainty by compounding existing risks and creating new risks. (1) This in turn caused the prices of gold and silver to increase exponentially, and gold reached an all-time high price in July 2020. You can read about it here: All that glitters IS GOLD.
As interest rates became zero or near zero, gold became an even more attractive investment because investors do not have to worry about not getting interest in gold investment, as the uncertainty in the markets inevitably pushes the gold price up.
The price of gold increased by 24% and the price of silver increased by 48% in USD terms. The U.S. dollar is the benchmarking pricing mechanism for gold and silver, and the LBMA (London Bullion Market Association) Gold Price and LBMA Silver Price is set in U.S. dollars per fine troy ounce (about 31.1 grams) daily.
In Swedish Crowns, Gold started the year at 14 212 SEK per ounce and ended the year at 15 457 SEK. (2) (3) Thus gold price in SEK increased by 8.75% in 2020.
In Swedish Crowns, Silver started the year at 167.61 SEK per ounce and ended the year at 216.61 SEK. (2) (3) Thus Silver price in SEK increased by 29% in 2020.
Many investors are concerned about the potential risks from expanding budget deficits, which, combined with the low-interest-rate environment and growing money supply, may result in inflationary pressures. This concern is underscored by the fact that central banks, including the US Federal Reserve and European Central Bank, have signaled greater tolerance for inflation to be temporarily above their traditional target bands. (1) (4)
Analysts at Bank of America expect the price of gold to increase by 50% to 3000 USD per ounce. You can read more about it here: The Fed Can’t Print Gold
Gold has stood the test of time and served as an asset class that has long-term returns. You can read more about the historical performance of gold here: Gold in the last 100 years.
Protect your portfolio against inflation and invest in gold today!
Not sure what to buy? Check out our investment packages here: Gold Investment Packages