“ Gold 's rally is just beginning.” Paul Singer of Elliott Management uses these words in the letter addressed to investors at the end of April and made public only yesterday. Prices of the metal have already risen 16% in the first three months of the year, signaling the best first quarter in the last 30 years . Yet, explains one of the most important managers in the world, they could continue to grow in the coming months, especially if the market has less and less confidence in the actions of central banks, or in the effectiveness of their ultra-expansionary monetary policies. Goldman Sachs has, in the meantime, raised its estimates to 3, 6 and 12 months, but the fact remains that the American investment bank continues to forecast prices lower than current levels in the medium term. In fact, the price currently stands at $1,278, up 20% compared to the beginning of the year, but still 30% lower than the peak reached in September 5 years ago.

Is investing in gold worth it today?

Gold has been the investment par excellence for over 5,000 years. Some consider it simply a metal, many others a real currency, a reserve of value over time, useful for protecting against the risk of loss of value of the currency, or against inflation. But does it make sense for an advanced economy investor to buy gold today to hedge against rising prices when we're talking about the opposite risk of deflation ? In fact, the greatest limit to further growth in prices is represented by an environment of almost zero or generally low inflation in all the main economies of the planet. Furthermore, the metal is negatively affected by the strengthening of the dollar, as it is purchased on the markets in the American currency