How coins and ingots have once again become a safe haven for the French
DECRYPTION – In recent years, thanks to repeated crises, purchases of coins and ingots have soared.
It is noon, the time when activity is in full swing in the shops of rue Vivienne, a historic gold artery, a stone’s throw from the old Paris Stock Exchange. The customers follow one another like every day in the shops where is sold or bought the precious yellow metal. Small transactions, purchase of ingots or coins, are paid by card or check at the counter, while larger ones – 10,000 euros, 50,000 euros or even much more – are done discreetly behind the varnished wooden counter in a small room adjoining. “We see about fifty transactions a day in the store, it’s a very important rhythm, ” explains Antoine Tahar, precious metals broker at Godot et Fils, a well-known gold house in France. “In people’s minds, gold protects against inflation. They don’t want to let their money sit in a bank account.” continues the broker.
These last months, inflationthere war in ukrainethe fall in the stock markets acted as an accelerator…