The ultimate safe-haven asset. Gold surpassed $4,800/oz in 2026 driven by central bank demand, negative real rates and geopolitical tensions. Price, movement drivers, correlations and how to invest from France.
Gold combines 3 unique properties that have made it a store of value for 5,000 years:
That's why during financial stress (war, high inflation, distrust of the dollar), central banks and individuals rotate massively into gold. 2022-2026 has been a perfect cycle: Ukraine war + post-Covid inflation + record US sovereign debt = gold at $4,800/oz in April 2026 (×2.5 from the 2022 low).
Supply side: world mining production stable at ~3,500 tons/year, dominated by China, Australia, Russia. Gold recycling adds ~1,200 tons/year.
5 options, from simplest to most advanced:
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