The Effects of the Global Economical Crisis on the Global Precious Metals Market

Rizea Raluca Daniela (), Sârbu Roxana () and Condrea Elena ()
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Rizea Raluca Daniela: Academy of Economic Studies, Bucharest
Sârbu Roxana: Academy of Economic Studies, Bucharest
Condrea Elena: “Ovidius”University of Constanta, Faculty of Economics

Ovidius University Annals, Economic Sciences Series, 2013, vol. XIII, issue 2, 60-64

Abstract: The present study aims to present the effects of the global economical crisis on precious metals market and to present the factors driving gold prices. Gold’s bull market paused between September 2011 and September 2012, but another up leg seems to be getting underway again. Given the concern over EU and US debt and the ongoing quantitative easing, we remain bullish for gold. The existence of the companies operating in the market of precious metals is even more difficult taking into consideration the increasing prices of the precious metals. Gold prices rallied strongly after the initial risk reduction sell-off that followed the 2008 financial crisis. The extent to which gold prices have climbed highlights how much gold has been monetarised, not by government decree, but by investors whose faith in the fiat monetary system has weakened. The present study will analyze also the factors that lead to the crisis on precious metals market: the evolution of dollar, inflation, stagflation and deflation, central bank official sales and buying, China build up its gold reserves and jewellery demand.

Keywords: global economical crisis; market of precious metals; competitiveness; strategy (search for similar items in EconPapers)
JEL-codes: F40 (search for similar items in EconPapers)
Date: 2013
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