The month of January has been very positive for the value of gold, since it began the year by increasing its value, and ended the month registering the highest level in recent months. During January 26, the rise in the value of gold stood at $1,948.
Society’s fear of a recession
Isabel Figuerola-Ferretti, professor of Financial Management at the Universidad Pontificia Comillas ICADE, explains to 20minutos that gold has safe haven value among its characteristics, since it is less volatile than conventional assets. In addition, it contains a greater capacity to retain its value.
Crisis in cryptocurrencies
On January 20, Genesis Global Capital, a cryptocurrency brokerage for institutional investors, filed for bankruptcy.
Geopolitical tension
Another factor that has driven the rise in the price of gold is international geopolitical tension.