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“The main advantage of gold is that this is not responsible,” said Nikos Kavalis, head of Metals Focus.
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Singapore – Gold said the Crown is safe Hayven. As in 2025, in 2025, prices increased by 30% by 30%, Bullion’s profits exceed the profit from other traditional safe shelters, such as Japanese, Swiss franc and American treasures – forcing investors to rethink what true security looks like, based on problems with fiscal sustainability and stretching war.
At the heart of the calling of gold is his freedom from state obligations, the market experts gathered at the annual conference of the Asia -Tsocan Ocean of precious metals, CNBC reported on Monday.
“The main advantage of gold is that this is not responsible,” said Nikos Kavalis, head of Metals Focus. “If the investor belongs to the Treasury, other sovereign bonds and even currency, they eventually buy in the appropriate economy,” he said.
To summarize other typical safe shelter since the beginning of the year: the dollar index, which measures the cost of the green lapel against the basket of currencies, has weakened almost 10% today. Currency asylum, such as Japanese Yen and Swiss Fran, strengthened about 8% and 10% to the dollar, respectively, over the same period of time.
The 10-year state bond yield at 10 basic points to date. Yields and prices are moved to the bond market, that is, smaller yields are equal to higher cost.
Note the prices for gold year
Unlike this, gold prices have invariably accrued fresh highs for several months. To date, it has gained about 30%today, currently trading at $ 3 403.09 after reaching the maximum in April more than $ 3,500. The demand for gold was due to the atmosphere of instability and uncertainty, especially with recent events in the Middle East, in addition to demanding demand for safe shelters.
“There is an increasing feeling, just not sure that there will be the future of the US dollar and the US Treasury. And I think it causes much more interest in alternative safe shelter, such as gold,” said the head of the World Council of the World Council of Shaookai.
Despite the fact that the dollar and the United States have historically served the bastion of financial security, cracks begin to show.
US treasures collided with steep sales in April After the “mutual” tariffs of President Donald Trump. Next exit from the long -dated debt to the US In May Following a decrease in the US loan rating and Trump’s tax bill, Trump served as a long-standing beating of the Treasury as a safe shelter, as an concern for investors about financial discipline, and a 30-year return is interrupted over a 5%key.
Demand for US debt tools has since resumed slightly. However, the confidence in US assets was compromised by changing policy in the world’s largest economy.
Why the gold stands out
“Gold as an asset does not affect the high debt ratio that affects other currencies,” said the head of the global institutional market at NPZ ABC refinery, who added that the fiscal position adopted by the United States and others remains casual, despite the alarm, sounded in the markets.
US bonds and dollar were not the only whose reputation of a safe shelter was given. The Treasury in May was accompanied by a sale in other key markets and investors rescued from Japanese government bonds.
“Structural problems are also ongoing in Japan,” said a supporter of the World Gold Council. He developed that Japanese he was weak in part because of the interest rate differentials.
The yield of 10-year Japanese government bond has grown by 39 basic points since the beginning of 2025, which indicates a decrease in demand. Japanese he estimated about 8% against the dollar over the same period.
Why gold stands out among others, it is a large liquid market for one as well as apolitical.
Shaooka fan
World Gold Council
Since the Bank of Japan did not raise the rates as much as other central banks, it was an investors to “interfere” to go into the interest rate, said Fan.
Central Bank of Japan retained its political rate stable by 0.5% The second consecutive meeting in May, as the concern of Trump’s tariffs clouded the country’s economic perspective. He also spent The June meeting on June Tuesday is 0.5% in conditions of risks of growth.
The Swiss franc, another traditional currency in security, has strengthened more than 10% against the green appeal since the beginning of the year.
However Swiss National Bank Can try to scare away safe flowsWhat makes the Swiss Frank less competitive, said the fan.
Back in March Swiss National Bank Set your political interest rate by 0.25%. Swiss consumer prices declined for the first time in four years, which led to some projections of negative interest rates on future politics.
“The Swiss franc is still very sexy, but the problem is that Swiss now has negative rates, and if I buy Franco, I don’t get a lot of profits,” said Bart Melek, head of the goods strategy at TD Securities.
In this direction, Gold stands out from other safe shelter assets issued and related to government owners, CNBC experts said.
“Why the gold stands out among others is a large liquid market for one as well as apolitical,” said Fan. “All other assets are issued by government owners. Thus, this is not a fiat -crop. The delivery of gold is limited to natural restrictions, and I think this is what is distinguished as an active asset. This is not related to some specific political risk,” said Fan.
And unlike sovereign bonds or Fiat currencies, Gold does not carry the risk to the counterparty, Melek said. “Gold has its own value. This means that I do not need to rely on government or private agent to fulfill my debt for paying coupon,” the strategist said.
Widespread purchases of Global Central Banks Gold also increase their attractive appeal, Melek added. In 2024 the central banks added 1,044.6 tons of gold to their stocks, noting The third year in a row that the purchases exceeded 1000 tons.
The European Central Bank also recently reported that gold was overtaken by the euro to become the second largest reserve asset, making about 20% of the world’s stock at the end of 2024.
