Economy

Gold Price
Analysis: Gold's decline goes against its historical role

The price of gold rose around 70 percent last year and the precious metal came to be traded more as a risk-on asset, writes Viktor Munkhammar for DI, who now believes that the air has run out.

He writes that one reason why the price of gold has retreated over $1,000 per ounce since the Iran war broke out is the belief in rising interest rates.

EFN analyst Ellinor Beckett agrees and writes that the pattern of the gold price recently is not as clear as history shows.

"Those who bought gold around $5,000 per ounce with the argument of protecting themselves against stock market declines and inflation have ironically become losers when war and the energy crisis hit in earnest," writes Ellinor Beckett for EFN.

Beckett believes that an asset that rises rapidly will attract speculators like gold did last year and that what should be a safer asset will instead become somewhat risky.

Now it is "risk off" in the market, says Beckett, and then gold, whose rise has been rapid and speculation-driven, will also fall.

Food prices
Grocery stores: We are making a jump start with the price cut

The temporary halving of food VAT comes into effect on April 1, but price changes may start to take effect as early as the beginning of next week. This is what DN writes.

This is to reduce the workload on the stores, as the change takes place at the same time as one of the most intense holidays of the year for the grocery trade.

- I know that the stores are changing schedules and hiring extra staff to be able to do this now. They will have to spend many hours on this in the stores, says Louise Hulgaar at Willy's communications department.

The grocery chain only has digital signs in around 60 of its 250 stores. With the VAT change, 1.9 million labels need to be replaced.

Election in Denmark
Wealth tax dominates debate in Denmark

The issue of wealth tax dominates the debate in Denmark ahead of the election on Tuesday, writes DI.

The Social Democrats propose that wealth over 25 million Danish kroner should be taxed at 0.5 percent per year. The party estimates that this could generate around 6.5 billion Danish kroner annually, writes DI.

The trade union Danish Industry is critical.

– Those affected have founded over 13,000 companies in the past 20 years, says Morten Granzau Nielsen, deputy CEO, to DI.

The development of electric cars
The giants' hatred of electric cars has cost them 700 billion

At least twelve of the world's leading car manufacturers have made U-turns regarding electrification and decided to significantly scale back their electric car ambitions. This is reported by the Financial Times.

The latest was Honda, which last week scrapped its goal to stop producing combustion engines by 2040. Similar decisions have previously been made by Audi, Mercedes-Benz, Ford and Volvo Cars, among others.

According to the newspaper's calculations, the total bill for the hating is at least $75 billion, equivalent to 700 billion kronor. This could include costs linked to canceled launches.