Empty Greek chests With the gold pounds or are they holding them?
The price of gold may have been ejected and the gold pounds reached levels that until a few years ago seemed untouchable, but the Greeks who have pounds in their hands do not seem to be in a hurry to sell them.
The gold pounds
According to the data of the Bank of Greece (TTE) the Greeks liquidated in the first half of this year only £13,950 gold pounds. On the contrary, Greek individuals who are mainly sellers in the first half of 2025 liquidated £22,697 gold pounds. Thus, there is a reduction of £8.747, or about 38.5%.
The reduction of gold pound liquids by Greeks is mainly due to strong volatility and international geopolitical uncertainty, which prompt holders to keep gold as «shelter», as well as the fact that much of the stocks had already been sold in the previous year.
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Many holders no longer treat gold pounds simply as an asset that can be sold when the price goes up. They treat it as security against economic uncertainty and as a reserve they want to maintain.
Greeks in times of economic and geopolitical uncertainty tend to return to familiar and tested solutions, the gold pounds. The precious metal that passed from generation to generation was linked to dowry and savings.
The gold
According to UBS analysis gold prices have set a bow for $5,000 an ounce.
Recent moves by the United States and Japan to strengthen the yen also reduced fears of a massive US bond sale, which would have led to higher bond yields, creating a setting that usually represents an obstacle to precious metals.
«Το ράλι του χρυσού έχει υποστήριξη», έγραψαν την Πέμπτη η επικεφαλής επενδύσεων της UBS, Ulrike Hoffmann-Burchardi, και η ομάδα της. «Αναμένουμε ότι οι τιμές του χρυσού θα αυξηθούν προς τα 5.000 δολάρια ΗΠΑ/ουγγιά το πρώτο εξάμηνο του 2027».
Οι τιμές του χρυσού έχουν μειωθεί από τότε που ξέσπασε ο πόλεμος στο Ιράν στα τέλη Φεβρουαρίου. Αν και οι στρατηγικοί αναλυτές της UBS βλέπουν βραχυπρόθεσμο κίνδυνο εάν οι τιμές του πετρελαίου αυξηθούν ή οι αγορές επιλέξουν μια πιο επιθετική πορεία επιτοκίων από την Ομοσπονδιακή Τράπεζα των ΗΠΑ, καθιστώντας τα ομόλογα πιο ελκυστικά, είναι αισιόδοξοι μεσοπρόθεσμα έως μακροπρόθεσμα για τις προοπτικές του πολύτιμου μετάλλου.
Η Hoffmann-Burchardi δήλωσε ότι η ομάδα της αναμένει ότι ο πληθωρισμός θα μετριαστεί σταδιακά, επιτρέποντας στην Fed να διατηρήσει αμετάβλητα τα επιτόκια φέτος πριν συνεχίσει τη χαλάρωση το 2027.
Source: OT
