On May 18 the oro It reached its highest value since October 2012, taking advantage of the measures of the main central banks that injected unprecedented amounts of liquidity into the economy in the context of the crisis.
And this Tuesday the metal again peaked, trading at US $ 1,841.65 an ounce. Is about its highest value in almost a decade.
For its part, the silver also reached its maximum price since 2014.
The silver ounce exceeded the symbolic threshold of US $ 20, reaching a maximum in six years (US $ 21.19), in a favorable environment for precious metals.
“As with gold, the flow of money (to silver) is fueled almost exclusively by robust speculative demand,” said Daniel Briesemann, analyst at Commerzbank.
Precious metals are considered as refuge values; and they take advantage of the period of great uncertainty caused by the new coronavirus pandemic.
Furthermore, in the case of silver “its importance in new battery technologies, and the reduction in the mining supply that is the main source of silver, are creating an imbalance between supply and demand,” said Jasper Lawler, analyst at London Capital Group.
After the first historical rise in gold on May 18, days later at the local level, the General Directorate of Credit Prendario (Dicrep) – popularly known as “Aunt Rica”– Announced a rise in the appraised value of the gram.
It was about “Greatest increase in history” of the body and began to take effect on Friday, May 22.
As a result, a loan was passed from $ 10,500 to $ 12,500 for each gram of gold, which meant an increase in the 19% of the appraisal.
Dicrep is an institution that provides social credits to people and has the characteristic that does not discriminate, being able to obtain the credit only by presenting the current identity card with the age of majority plus the species to be pawned.