By Egzon Jusufi

 

Following the recent correction, the gold price has risen sharply once again. As of Friday, 7 August 2026, the international gold price, expressed in US dollars, had gained more than 7% over the week. It had also recorded a clear increase in euro terms. Changing expectations regarding US interest rates and a weaker dollar were the main drivers of this recovery. Continued purchases by central banks also remain an important structural factor.

 

In the short term, the gold price is strongly influenced by interest rates, currency movements and investor confidence. These factors can change rapidly, causing both price increases and corrections. The underlying supply evolves far more slowly. A price forecast can be revised overnight, whereas developing a newly discovered gold deposit and bringing it into production often takes more than a decade.

 

A higher gold price does not, therefore, automatically result in a significant increase in mine production. Major new discoveries are rare, while existing mines can expand their capacity only gradually because of geological, technical and economic constraints.

 

Recycled gold responds more quickly to higher prices and can temporarily increase the available supply. However, the recent correction was not caused by an overproduction of gold. It was mainly driven by financial factors, including interest-rate expectations, movements in the dollar and changing market sentiment.

 

The recent recovery once again demonstrates how quickly financial conditions can change. The price of gold fluctuates, sometimes considerably, but the limited and particularly slow growth of new supply remains one of the metal’s fundamental characteristics.

 

We therefore advise our clients not to view physical gold solely as a vehicle for short-term speculation, but as a tangible reserve that may have a place within a carefully diversified portfolio.

 

You are welcome to make an appointment to discuss your current physical gold holdings with us. Together, we can consider which gold products, formats and quantities may best suit your requirements. Our guidance relates exclusively to physical gold and does not constitute personalised financial or investment advice.

 

 

Edelmetaal Richard

 

Telefoon: 03 886 62 54

 

David Louis

0495 602 702

 

Egzon

0477 281 241