Le Figaro: "Individuals are rushing to buy gold"

In Le Figaro, GOLDMARKET recounts the summer of 2019 when individuals rushed to buy gold.

At the end of summer 2019, the price of gold experienced an exceptional August. To get a sense of what was happening at the dealers' counters, Le Figaro visited gold buying and selling shops in Paris. The report opens on the Avenue des Champs-Élysées, at GOLDMARKET, where the journalist meets Rafik Makhlouf, the company's founder, who is keeping a close eye on the price charts.

What Le Figaro observed at GOLDMARKET

The newspaper describes an "exceptional" influx of visitors in August, driven by a historic rise in the price of the metal. Rafik Makhlouf summarizes the trend with two figures: "+20% since the beginning of the year" and "+400% in 20 years." He outlines the underlying factors, as reported by the journalist: the geopolitical context, the trade war between Beijing and Washington, the risk of a global economic crisis, and demand from central banks and investment funds.

"On August 26th, we experienced a peak, almost the highest price in history."

— Rafik Makhlouf, founder of GOLDMARKET, quoted by Le Figaro

As a direct consequence, writes Le Figaro, individual investors' interest in this safe-haven investment is increasing. At the counter, the number of customers doubled in August compared to usual, both for buying and selling.

Who buys gold when it goes up?

The report highlights a counterintuitive fact: buyers remain numerous in a bull market. "They want to take advantage of it, because everyone is talking about gold right now," explains the founder of GOLDMARKET. The dominant profile remains that of executives and high-income earners, but he notes the arrival of younger clients who buy smaller quantities on a regular basis. "Some people prefer not to depend on banks anymore," he continues, referring to the low returns on savings investments.

Le Figaro completed its investigation with another trader in the Bourse district, who noted the same acceleration in his activity since May.

Why this article matters

• It documents, through an independent third party, a market moment: the peak of August 26, 2019, a foreshadowing of the records that would follow.
• He describes the business as GOLDMARKET practices it on the Avenue des Champs-Élysées: estimating jewelry at the counter, buying and selling at the current market price.
• He sets out an analysis that remains relevant: gold attracts when uncertainty rises, and young savers enter it in small, regular amounts.

Read the article on the newspaper's website: “Individuals are rushing to buy gold,” Le Figaro, August 27, 2019.

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