Austrians Flock to Gold Amidst Market Volatility
Despite record highs, Austrians continue to invest in gold, with the Philharmonic coin being particularly popular. Wealth managers like Flossbach von Storch advise caution due to significant risks and currency fluctuations.
Gold's appeal lies in its role as a crisis currency, offering a safe haven when other investments falter. However, predicting its market behaviour is challenging due to geopolitical uncertainties and inflation fears.
In the 2008 financial crisis, gold prices soared to a record high of around 1,895 USD per ounce in 2011. Since then, it has experienced volatility, falling to around 1,045 USD by the end of 2015. Currently, the gold price stands at approximately 3,860 USD per ounce.
For 2025, forecasts predict an average gold price of around $4,765 per troy ounce, with fluctuations between approximately $4,563 and $5,088. Long-term predictions are unavailable, but historical trends and gold's role as a safe haven suggest continued influence from inflation, geopolitical risks, and demand for crisis protection.
Gold's secure investment form has been trusted for centuries, with steady value gains over time. During global crises, gold prices typically increase due to its durability. Despite volatility, gold stabilizes portfolios. Investors should consider currency risks and seek expert advice when investing in gold.
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