50603 dollars in New York during session

A symbolic cap is crossed. For the first time in its history, the gold yesterday exceeded the $ 1,500 an ounce in cash markets. Courses are mounted up to 1.506,03 dollars in New York during session. A record more gold, whose price has quintupled over the past ten years. At the same time, the CAC 40 index still shows a decline of more than 40 since its September 2000 record...

Gold currently shines all its lights, is that he has an alignment of the stars without precedent. The "barbaric relic", dear to Keynes, is first of its refuge status. Revolts in the Arab world, tsunami in the Japan call with Portugal, Standard & Poor's warning on us debt: successive shocks in recent weeks, all of who participated in strengthening the appetite of investors for the gold. This plus three elements which are traditionally in his favour: the general weakness of interest rates, the decline of the dollar and fears of an inflationary surge. "Inflation, monetary disorders, euro-zone debt crisis and the revolts in the Middle East and the Maghreb: combined, all of this continues to fuel interest in gold", summarizes James Moore, the specialized Cabinet The Bullion Desk.

From a more "fundamental" point of view, the yellow metal also benefits from the imbalance between limited supply and growing demand. The production of landmines, to some 2,500 tonnes of gold, is still from meet the demand, which peaked at 3.812 tonnes last year, the equivalent of $ 150 billion. And the situation is likely to be reversed. The demand for gold is high in all segments, led jewellery and the major Asian markets. Imports of yellow metal were multiplied by six in China last year, its success both reflecting the new wealth of the upper classes and the need to protect against inflation. But the largest purchaser of the planet is India, where, for farmers, gold has always embodied the concept of heritage and savings.

The progress of the application is also supported by investments in the "trackers", these financial products that replicate the course of an ounce. It is finally supported the renewed interest of some central banks. For the first time in twenty-one years, they have purchased more than gold that they did in sold in 2010. Many central banks of emerging countries have been buyers, including Russia, China, but also of Thailand, the Venezuela or Bangladesh. At the same time, European countries have ceased to sell their reserves after the financial crisis.

Where will this rise stop Traders argued yesterday that, once passed the 1,500 dollars, investors who viewed this level as an objective could see the opportunity to earn some profits and get to sell. But in the long term, few are specialists who do not predict a continuation of the assessment of the course. If gold became an eligible asset on the reserves of central banks, it could become, in the next years, for many institutional investors and savers. According to forecasts published last week by the specialized cabinet GFMS, which forecasts are authoritative on the markets, the yellow metal should exceed $ 1,600 an ounce by end 2011. According to the Bank Standard Chartered, it would be even entered a "super-cycle" which should lead to exceed the $ 2,100 an ounce by 2014.