27 October 2025
Desde Banco BIG, nuestra directora general, Sara Carbonell, analiza el reciente comportamiento del oro.
En los últimos años, el acceso a la inversión en oro se ha democratizado notablemente. Ya no se limita a la compra de oro físico, sino que existen múltiples vehículos como ETFs, derivados y otros productos financieros que permiten a los inversores participar en este mercado de forma más accesible.
La reciente caída del 7 % en el precio del oro durante dos sesiones puede interpretarse como una recogida de beneficios tras un periodo de fuerte revalorización. Este tipo de correcciones son habituales cuando un activo ha acumulado rentabilidades significativas.

Además, factores como la incertidumbre geopolítica —con conflictos como el de Ucrania y figuras como Trump y Putin en el escenario internacional— podrían devolver al oro su papel tradicional como activo refugio. También influye la evolución del dólar: su reciente fortalecimiento encarece el oro, lo que puede afectar su demanda. Durante el año, el oro ha registrado revalorizaciones históricas, comparables a las de los años 70, impulsadas en parte por la debilidad del dólar, que abarataba la materia prima.
En este contexto, será clave observar si estamos ante un cambio de tendencia o simplemente una pausa técnica en su trayectoria alcista.
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