Bank Societe Generale recommends using gold as a defensive asset
Recently bank Societe Generale has recommended that clients hold part of their savings in gold to stabilize their investment portfolio.
It occurred because lately, the price of this precious metal has demonstrated stable and steady growth.
According to FXStreet.com, the bank supposes that investments in gold and Swiss franc can help to protect oneself from systemic risks. They are common after monetary tightening. Gold and the Swiss franc, in turn, will help reduce the volatility of the investment portfolio.
Societe Generale gives a cautious forecast about the prices for gold in 2023. They will likely increase. The bank suggests that the gold price will be $1650 per ounce, and by 2025 it will be $1900.
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