We are now seeing an accelerated flight of investors to safe havens. In addition to precious metals, government bonds are again in high demand. At the same time, the euro continues to weaken, and both of these factors are reflected in record prices for precious metals on German trading floors. For example, on Friday morning, a one troy ounce gold bullion Krugerrand was worth more than 1,850 euros in most precious metal shops. Thus, over the year its price has increased by about 23%. On the contrary, European stock markets have repeatedly come under pressure due to the military conflict in Ukraine. The price of bitcoin is still subject to significant fluctuations. This is due to the fact that speculative and technical factors still have a strong influence on the price dynamics of cryptocurrencies. That is why digital currencies have not become in great demand among a wide range of investors as a real protective asset. The current crisis has once again demonstrated to us how important it is to own the precious metal in physical form. This shows the true value of gold. Especially when you try to put yourself in the dramatic situation of Ukrainian refugees. Many have to leave everything they own. Gold, however, has a high cost density and high mobility. Gold can be exchanged for any currency in another country. And the precious metal that you can take with you is probably enough to survive financially in other places for some time. Perhaps it can even be used to build a new life in a new place. In other words: while other asset classes theoretically serve as a store of wealth (stocks, bonds, cryptocurrencies), gold has been proving its real value as a store of wealth in practice for thousands of years. However, this does not mean that the price of gold will now rise forever. If the crisis abates in the short term, we will again see a significant correction in precious metals prices. Because, of course, the value of gold is also determined by the speculative component. But the fact that gold coins and bars are indispensable in the modern world as asset protection should already be clear. And the next crisis is sure to come. Because our established debt monetary system continues to provoke new distortions that have already reached the limits of their possible existence.