{"id":14303,"date":"2026-05-18T09:48:04","date_gmt":"2026-05-18T07:48:04","guid":{"rendered":"https:\/\/www.veracash.com\/?page_id=14303"},"modified":"2026-06-01T11:07:50","modified_gmt":"2026-06-01T09:07:50","slug":"placement-anti-inflation","status":"publish","type":"page","link":"https:\/\/www.veracash.com\/fr\/comment-investir-or\/pourquoi-investir-dans-or\/placement-anti-inflation","title":{"rendered":"Pourquoi l&rsquo;or est-il un placement anti-inflation ?"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row row_height_percent=\u00a0\u00bb0&Prime; override_padding=\u00a0\u00bbyes\u00a0\u00bb h_padding=\u00a0\u00bb2&Prime; top_padding=\u00a0\u00bb3&Prime; bottom_padding=\u00a0\u00bb3&Prime; back_color=\u00a0\u00bbcolor-128411&Prime; overlay_alpha=\u00a0\u00bb50&Prime; gutter_size=\u00a0\u00bb3&Prime; column_width_percent=\u00a0\u00bb100&Prime; shift_y=\u00a0\u00bb0&Prime; z_index=\u00a0\u00bb0&Prime; content_parallax=\u00a0\u00bb0&Prime; uncode_shortcode_id=\u00a0\u00bb214504&Prime; back_color_type=\u00a0\u00bbuncode-palette\u00a0\u00bb][vc_column width=\u00a0\u00bb1\/1&Prime;][uncode_breadcrumbs][vc_custom_heading heading_semantic=\u00a0\u00bbh1&Prime; text_size=\u00a0\u00bbh1&Prime; uncode_shortcode_id=\u00a0\u00bb165762&Prime;]L\u2019or, un placement anti-inflation[\/vc_custom_heading][vc_column_text uncode_shortcode_id=\u00a0\u00bb358866&Prime;]Certains placements sont r\u00e9put\u00e9s pour mieux r\u00e9sister que d\u2019autres \u00e0 l\u2019inflation, et l\u2019or en fait partie. Le m\u00e9tal jaune, actif tangible et r\u00e9serve de valeur, adopte g\u00e9n\u00e9ralement un comportement contracyclique lors des p\u00e9riodes de crise. Dans un contexte inflationniste et de d\u00e9valuation de la monnaie, le cours de l\u2019or a tendance \u00e0 augmenter.<\/p>\n<p>Qu\u2019est-ce que l\u2019inflation et quelles sont ses r\u00e9percussions sur les investissements\u00a0? Comment investir dans l\u2019or pour se prot\u00e9ger de l\u2019inflation\u00a0? Explications.<\/p>\n<p><strong> <em>Rappel<\/em> <\/strong> <em>\u00a0: les performances pass\u00e9es ne pr\u00e9jugent pas du futur et ce texte ne remplace pas les conseils d\u2019un professionnel de la gestion de patrimoine.<\/em>[\/vc_column_text][vc_button button_color=\u00a0\u00bbcolor-216272&Prime; size=\u00a0\u00bbbtn-sm\u00a0\u00bb border_width=\u00a0\u00bb0&Prime; button_color_type=\u00a0\u00bbuncode-palette\u00a0\u00bb uncode_shortcode_id=\u00a0\u00bb210742&Prime; link=\u00a0\u00bburl:https%3A%2F%2Fwww.veracash.com%2Ffr%2Fconnexion\u00a0\u00bb]Acheter de l&rsquo;or[\/vc_button][\/vc_column][\/vc_row][vc_row row_height_percent=\u00a0\u00bb0&Prime; override_padding=\u00a0\u00bbyes\u00a0\u00bb h_padding=\u00a0\u00bb2&Prime; top_padding=\u00a0\u00bb3&Prime; bottom_padding=\u00a0\u00bb3&Prime; overlay_alpha=\u00a0\u00bb50&Prime; gutter_size=\u00a0\u00bb3&Prime; column_width_percent=\u00a0\u00bb100&Prime; shift_y=\u00a0\u00bb0&Prime; z_index=\u00a0\u00bb0&Prime; content_parallax=\u00a0\u00bb0&Prime; uncode_shortcode_id=\u00a0\u00bb111128&Prime;][vc_column width=\u00a0\u00bb1\/1&Prime;][vc_custom_heading uncode_shortcode_id=\u00a0\u00bb248143&Prime;]Rappel\u00a0: d\u00e9finition de l\u2019inflation[\/vc_custom_heading][vc_column_text uncode_shortcode_id=\u00a0\u00bb139763&Prime;]L\u2019inflation correspond \u00e0 une <strong>hausse durable des prix<\/strong>. Lorsque les prix augmentent, une m\u00eame somme d\u2019argent ne permet plus d\u2019acheter autant de biens et\/ou de services\u00a0: ainsi, le pouvoir d\u2019achat diminue. En France, l\u2019indice de r\u00e9f\u00e9rence est l\u2019indice des prix \u00e0 la consommation (IPC), mesur\u00e9 par l\u2019Insee.[\/vc_column_text][vc_column_text uncode_shortcode_id=\u00a0\u00bb193664&Prime;]D\u2019autres notions sont associ\u00e9es \u00e0 l\u2019inflation\u00a0:<\/p>\n<ul>\n<li>La stagflation\u00a0: une situation \u00e9conomique qui combine forte inflation et croissance \u00e9conomique faible voire nulle, et qui peut s\u2019accompagner d\u2019un taux de ch\u00f4mage \u00e9lev\u00e9\u00a0;<\/li>\n<li>L\u2019hyperinflation\u00a0: une hausse extr\u00eamement rapide des prix, g\u00e9n\u00e9ralement de plus de 50\u00a0% en un mois\u00a0;<\/li>\n<li>La d\u00e9flation\u00a0: l\u2019inverse de l\u2019inflation, c\u2019est-\u00e0-dire une baisse durable des prix.<\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_height_percent=\u00a0\u00bb0&Prime; override_padding=\u00a0\u00bbyes\u00a0\u00bb h_padding=\u00a0\u00bb2&Prime; top_padding=\u00a0\u00bb0&Prime; bottom_padding=\u00a0\u00bb0&Prime; overlay_alpha=\u00a0\u00bb50&Prime; gutter_size=\u00a0\u00bb3&Prime; column_width_percent=\u00a0\u00bb100&Prime; shift_y=\u00a0\u00bb0&Prime; z_index=\u00a0\u00bb0&Prime; content_parallax=\u00a0\u00bb0&Prime; uncode_shortcode_id=\u00a0\u00bb412601&Prime;][vc_column width=\u00a0\u00bb1\/1&Prime;][vc_separator sep_color=\u00a0\u00bb\u00a0\u00bb uncode_shortcode_id=\u00a0\u00bb352663&Prime;][\/vc_column][\/vc_row][vc_row row_height_percent=\u00a0\u00bb0&Prime; override_padding=\u00a0\u00bbyes\u00a0\u00bb h_padding=\u00a0\u00bb2&Prime; top_padding=\u00a0\u00bb3&Prime; bottom_padding=\u00a0\u00bb3&Prime; overlay_alpha=\u00a0\u00bb50&Prime; gutter_size=\u00a0\u00bb3&Prime; column_width_percent=\u00a0\u00bb100&Prime; shift_y=\u00a0\u00bb0&Prime; z_index=\u00a0\u00bb0&Prime; content_parallax=\u00a0\u00bb0&Prime; uncode_shortcode_id=\u00a0\u00bb111128&Prime;][vc_column width=\u00a0\u00bb1\/1&Prime;][vc_custom_heading uncode_shortcode_id=\u00a0\u00bb146666&Prime;]Pourquoi certains placements r\u00e9sistent-ils mal \u00e0 l\u2019inflation\u00a0?[\/vc_custom_heading][vc_custom_heading heading_semantic=\u00a0\u00bbh3&Prime; text_size=\u00a0\u00bbh3&Prime; uncode_shortcode_id=\u00a0\u00bb918821&Prime;]Forte inflation rime avec climat g\u00e9n\u00e9ral d\u2019incertitude[\/vc_custom_heading][vc_column_text uncode_shortcode_id=\u00a0\u00bb620834&Prime;]Une trop forte inflation entra\u00eene <strong>des r\u00e9percussions n\u00e9gatives sur l\u2019\u00e9conomie de mani\u00e8re g\u00e9n\u00e9rale<\/strong>, et un climat d\u2019incertitude. Aussi, la plupart des placements financiers sont susceptibles de souffrir de l\u2019inflation (sauf les actifs qui sont index\u00e9s sur l\u2019\u00e9volution des prix). Pour les \u00e9pargnants, l\u2019inflation \u00e9rode le pouvoir d\u2019achat\u00a0: avec la m\u00eame somme d\u2019argent mise de c\u00f4t\u00e9, ils peuvent acheter moins de biens et de services.[\/vc_column_text][vc_custom_heading heading_semantic=\u00a0\u00bbh3&Prime; text_size=\u00a0\u00bbh3&Prime; uncode_shortcode_id=\u00a0\u00bb800062&Prime;]En cas d\u2019inflation, un rendement moins important[\/vc_custom_heading][vc_column_text uncode_shortcode_id=\u00a0\u00bb173811&Prime;]Un actif r\u00e9siste mal \u00e0 l\u2019inflation lorsque son \u00e9volution ne suit pas, ou insuffisamment, le rythme de la hausse des prix. C\u2019est notamment le cas des placements financiers qui reposent sur des taux fixes (assurance-vie sur un fonds en euros, livret A), plus vuln\u00e9rables face \u00e0 l\u2019inflation. L\u2019explication\u00a0: dans certains cas, le rendement est d\u00e9termin\u00e9 \u00e0 l\u2019avance et celui-ci ne s\u2019ajuste pas en fonction du contexte \u00e9conomique. Si l\u2019inflation d\u00e9passe le taux d\u2019int\u00e9r\u00eat, les performances deviennent n\u00e9gatives. Plus concr\u00e8tement, les revenus issus de ces placements ne permettent pas de compenser la perte de valeur li\u00e9e \u00e0 la hausse des prix. Dans le cas d\u2019un livret A, le taux est calcul\u00e9 en fonction de l\u2019inflation, mais il ne r\u00e9agit pas assez rapidement pour \u00eatre avantageux pour l\u2019\u00e9pargnant.[\/vc_column_text][vc_custom_heading heading_semantic=\u00a0\u00bbh3&Prime; text_size=\u00a0\u00bbh3&Prime; uncode_shortcode_id=\u00a0\u00bb170803&Prime;]Immobilier et inflation\u00a0: quels impacts\u00a0?[\/vc_custom_heading][vc_column_text uncode_shortcode_id=\u00a0\u00bb138480&Prime;]Le cas de l\u2019immobilier locatif est int\u00e9ressant. Ce type de placement est souvent cit\u00e9 parmi les solutions anti-inflation, mais ses avantages restent limit\u00e9s. En cas de flamb\u00e9e des prix prolong\u00e9e, les banques centrales peuvent valoriser les taux directeurs \u00e0 la hausse, ce qui augmente le co\u00fbt des cr\u00e9dits. Du c\u00f4t\u00e9 des locataires, la baisse du pouvoir d\u2019achat peut aussi entra\u00eener des difficult\u00e9s pour payer les loyers. Et donc, l\u00e0 encore, un rendement non garanti pour l\u2019investisseur.[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_height_percent=\u00a0\u00bb0&Prime; override_padding=\u00a0\u00bbyes\u00a0\u00bb h_padding=\u00a0\u00bb2&Prime; top_padding=\u00a0\u00bb0&Prime; bottom_padding=\u00a0\u00bb0&Prime; overlay_alpha=\u00a0\u00bb50&Prime; gutter_size=\u00a0\u00bb3&Prime; column_width_percent=\u00a0\u00bb100&Prime; shift_y=\u00a0\u00bb0&Prime; z_index=\u00a0\u00bb0&Prime; content_parallax=\u00a0\u00bb0&Prime; uncode_shortcode_id=\u00a0\u00bb412601&Prime;][vc_column width=\u00a0\u00bb1\/1&Prime;][vc_separator sep_color=\u00a0\u00bb\u00a0\u00bb uncode_shortcode_id=\u00a0\u00bb352663&Prime;][\/vc_column][\/vc_row][vc_row row_height_percent=\u00a0\u00bb0&Prime; override_padding=\u00a0\u00bbyes\u00a0\u00bb h_padding=\u00a0\u00bb2&Prime; top_padding=\u00a0\u00bb3&Prime; bottom_padding=\u00a0\u00bb3&Prime; overlay_alpha=\u00a0\u00bb50&Prime; gutter_size=\u00a0\u00bb3&Prime; column_width_percent=\u00a0\u00bb100&Prime; shift_y=\u00a0\u00bb0&Prime; z_index=\u00a0\u00bb0&Prime; content_parallax=\u00a0\u00bb0&Prime; uncode_shortcode_id=\u00a0\u00bb111128&Prime;][vc_column width=\u00a0\u00bb1\/1&Prime;][vc_custom_heading uncode_shortcode_id=\u00a0\u00bb305796&Prime;]Pourquoi l\u2019or est-il consid\u00e9r\u00e9 comme l\u2019un des meilleurs placements anti-inflation\u00a0?[\/vc_custom_heading][vc_custom_heading heading_semantic=\u00a0\u00bbh3&Prime; text_size=\u00a0\u00bbh3&Prime; uncode_shortcode_id=\u00a0\u00bb553296&Prime;]L\u2019or, un m\u00e9tal pr\u00e9cieux et rare, avec une reconnaissance universelle[\/vc_custom_heading][vc_column_text uncode_shortcode_id=\u00a0\u00bb122608&Prime;]L\u2019or existe sur Terre depuis la nuit des temps, et a circul\u00e9 comme monnaie d\u00e8s l\u2019Antiquit\u00e9. Au fil du temps, l\u2019or est devenu un m\u00e9tal incontournable, <strong>reconnu de mani\u00e8re universelle pour sa raret\u00e9 et ses qualit\u00e9s exceptionnelles<\/strong>. Inoxydable, durable, et excellent conducteur thermique, l\u2019or est utilis\u00e9 dans de nombreux domaines, de la joaillerie aux nouvelles technologies. En tant qu\u2019investissement, il fait aujourd\u2019hui partie des actifs tangibles qui conservent leur valeur intrins\u00e8que.[\/vc_column_text][vc_custom_heading heading_semantic=\u00a0\u00bbh3&Prime; text_size=\u00a0\u00bbh3&Prime; uncode_shortcode_id=\u00a0\u00bb703508&Prime;]L\u2019or est un actif qui ne d\u00e9pend d\u2019aucun \u00c9tat[\/vc_custom_heading][vc_column_text uncode_shortcode_id=\u00a0\u00bb167257&Prime;]Contrairement aux monnaies \u00e9mises par les Banques centrales ou aux obligations d\u2019\u00c9tat, l\u2019or ne d\u00e9pend d\u2019aucun gouvernement ni d\u2019aucune institution financi\u00e8re. <strong>Sa valeur ne peut pas \u00eatre manipul\u00e9e et il n\u2019est pas possible de \u00ab\u00a0cr\u00e9er de l\u2019or\u00a0\u00bb de la m\u00eame mani\u00e8re que certains \u00c9tats font tourner la planche \u00e0 billets<\/strong>. En p\u00e9riode d\u2019inflation, cette ind\u00e9pendance devient particuli\u00e8rement attractive pour les investisseurs. L\u2019or appara\u00eet ainsi comme une r\u00e9serve de valeur, reconnue de mani\u00e8re universelle ind\u00e9pendamment des contextes \u00e9conomiques locaux.[\/vc_column_text][vc_custom_heading heading_semantic=\u00a0\u00bbh3&Prime; text_size=\u00a0\u00bbh3&Prime; uncode_shortcode_id=\u00a0\u00bb160976&Prime;]L\u2019or est un actif contracyclique[\/vc_custom_heading][vc_column_text uncode_shortcode_id=\u00a0\u00bb450700&Prime;]Le m\u00e9tal pr\u00e9cieux a tendance \u00e0 \u00e9voluer diff\u00e9remment des actifs li\u00e9s aux march\u00e9s financiers et boursiers. Il est d\u2019ailleurs consid\u00e9r\u00e9 comme un actif contracyclique\u00a0: <strong>sa valeur tend \u00e0 augmenter lorsque les march\u00e9s sont sous tension ou dans un contexte de crise<\/strong> (\u00e9conomique ou g\u00e9opolitique). Dans ces p\u00e9riodes, les investisseurs cherchent plut\u00f4t \u00e0 s\u00e9curiser leur patrimoine en privil\u00e9giant des actifs consid\u00e9r\u00e9s comme plus s\u00fbrs.[\/vc_column_text][vc_custom_heading heading_semantic=\u00a0\u00bbh3&Prime; text_size=\u00a0\u00bbh3&Prime; uncode_shortcode_id=\u00a0\u00bb299677&Prime;]L\u2019or\u00a0: un actif sans rendement mais \u00e0 forte valeur[\/vc_custom_heading][vc_column_text uncode_shortcode_id=\u00a0\u00bb105553&Prime;]Contrairement \u00e0 d\u2019autres actifs comme l\u2019immobilier, un livret r\u00e9glement\u00e9 ou un portefeuille d\u2019actions, l\u2019or ne produit pas de rendement. Il ne verse pas de dividendes, ne g\u00e9n\u00e8re pas d\u2019int\u00e9r\u00eats ou de loyers. Le r\u00f4le de ce type d\u2019actif n\u2019est pas de cr\u00e9er de la valeur, mais plut\u00f4t de la s\u00e9curiser. L\u2019or r\u00e9pond \u00e0 une logique de protection patrimoniale. <strong>Dans un contexte d\u2019inflation, un placement qui conserve le pouvoir d\u2019achat repr\u00e9sente d\u00e9j\u00e0 une performance<\/strong>. En comparaison, <a href=\"https:\/\/www.veracash.com\/fr\/blog\/epargne-les-limites-des-livrets-reglementes\">une \u00e9pargne plac\u00e9e sur un livret \u00e0 1,5 %<\/a> a plut\u00f4t tendance \u00e0 fondre lorsque l\u2019inflation est de 5 %.[\/vc_column_text][vc_custom_heading heading_semantic=\u00a0\u00bbh3&Prime; text_size=\u00a0\u00bbh3&Prime; uncode_shortcode_id=\u00a0\u00bb523128&Prime;]L\u2019or est un placement de long terme[\/vc_custom_heading][vc_column_text uncode_shortcode_id=\u00a0\u00bb182111&Prime;]Un investissement dans l\u2019or s\u2019envisage sur le long terme. Le cours de l\u2019or \u00e9tant influenc\u00e9 par plusieurs facteurs \u00e9conomiques et g\u00e9opolitiques, le m\u00e9tal jaune n\u2019est pas une r\u00e9ponse imm\u00e9diate \u00e0 un contexte d\u2019inflation. \u00c0 long terme, en revanche, <strong>un placement en or permet de prot\u00e9ger une partie du capital des crises et des p\u00e9riodes d\u2019inflation prolong\u00e9es<\/strong>.[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_height_percent=\u00a0\u00bb0&Prime; override_padding=\u00a0\u00bbyes\u00a0\u00bb h_padding=\u00a0\u00bb2&Prime; top_padding=\u00a0\u00bb0&Prime; bottom_padding=\u00a0\u00bb0&Prime; overlay_alpha=\u00a0\u00bb50&Prime; gutter_size=\u00a0\u00bb3&Prime; column_width_percent=\u00a0\u00bb100&Prime; shift_y=\u00a0\u00bb0&Prime; z_index=\u00a0\u00bb0&Prime; content_parallax=\u00a0\u00bb0&Prime; uncode_shortcode_id=\u00a0\u00bb412601&Prime;][vc_column width=\u00a0\u00bb1\/1&Prime;][vc_separator sep_color=\u00a0\u00bb\u00a0\u00bb uncode_shortcode_id=\u00a0\u00bb352663&Prime;][\/vc_column][\/vc_row][vc_row row_height_percent=\u00a0\u00bb0&Prime; override_padding=\u00a0\u00bbyes\u00a0\u00bb h_padding=\u00a0\u00bb2&Prime; top_padding=\u00a0\u00bb3&Prime; bottom_padding=\u00a0\u00bb3&Prime; overlay_alpha=\u00a0\u00bb50&Prime; gutter_size=\u00a0\u00bb3&Prime; column_width_percent=\u00a0\u00bb100&Prime; shift_y=\u00a0\u00bb0&Prime; z_index=\u00a0\u00bb0&Prime; content_parallax=\u00a0\u00bb0&Prime; uncode_shortcode_id=\u00a0\u00bb111128&Prime;][vc_column width=\u00a0\u00bb1\/1&Prime;][vc_custom_heading uncode_shortcode_id=\u00a0\u00bb106561&Prime;]Pourquoi l\u2019or devient-il attractif quand l\u2019inflation augmente\u00a0?[\/vc_custom_heading][vc_custom_heading heading_semantic=\u00a0\u00bbh3&Prime; text_size=\u00a0\u00bbh3&Prime; uncode_shortcode_id=\u00a0\u00bb153594&Prime;]Rappel des facteurs qui influencent le cours de l\u2019or[\/vc_custom_heading][vc_column_text uncode_shortcode_id=\u00a0\u00bb151661&Prime;]Le cours de l\u2019or \u00e9volue en fonction de divers facteurs.<\/p>\n<ul>\n<li><strong>Le contexte \u00e9conomique et g\u00e9opolitique<\/strong> : en p\u00e9riode d\u2019incertitude, les investisseurs se tournent vers des actifs moins risqu\u00e9s, par s\u00e9curit\u00e9. Les r\u00e9centes guerre (Ukraine, Moyen-Orient) l\u2019ont montr\u00e9, comme la pand\u00e9mie de Covid-19.<\/li>\n<li><strong style=\", sans-serif\">Les taux d\u2019int\u00e9r\u00eat<\/strong><span style=\", sans-serif\"> : si la R\u00e9serve f\u00e9d\u00e9rale am\u00e9ricaine (FED) ou la Banque Centrale Europ\u00e9enne (BCE) d\u00e9cide d\u2019augmenter ses taux directeurs, le prix de l\u2019or a tendance \u00e0 baisser (et inversement). Quand les taux d\u2019int\u00e9r\u00eat sont plus \u00e9lev\u00e9s, la monnaie et les obligations sont plus attractives que le m\u00e9tal jaune.<\/span><\/li>\n<li><strong style=\", sans-serif\">La monnaie<\/strong><span style=\", sans-serif\">\u00a0: le cours de l\u2019or a toujours \u00e9t\u00e9 li\u00e9 aux \u00e9volutions de la monnaie, y compris depuis la fin de l\u2019\u00e9talon-or. En p\u00e9riode d\u2019inflation, une m\u00eame somme d\u2019argent permet d\u2019acheter moins d\u2019or physique. En fait, ce n\u2019est pas tant le cours de l\u2019or qui augmente mais plut\u00f4t la valeur de la monnaie qui baisse.<\/span><\/li>\n<\/ul>\n<p>[\/vc_column_text][vc_custom_heading heading_semantic=\u00a0\u00bbh3&Prime; text_size=\u00a0\u00bbh3&Prime; uncode_shortcode_id=\u00a0\u00bb113432&Prime;]Comment l\u2019or s\u2019est-il comport\u00e9 lors des derni\u00e8res p\u00e9riodes d\u2019inflation\u00a0?[\/vc_custom_heading][vc_column_text uncode_shortcode_id=\u00a0\u00bb746552&Prime;]Plusieurs \u00e9pisodes r\u00e9cents d\u2019inflation fran\u00e7aise permettent d\u2019observer le comportement de l\u2019or. Les subprimes notamment\u00a0: \u00e0 ce moment-l\u00e0, la crise financi\u00e8re, les politiques mon\u00e9taires et les craintes inflationnistes soutiennent l\u2019or. En France, l\u2019indice des prix \u00e0 la consommation (IPC) atteint 2,8\u00a0% en 2008 et 2,1\u00a0% en 2011. Dans le m\u00eame temps, le m\u00e9tal jaune enregistre des records et encha\u00eene plusieurs ann\u00e9es de progression entre 2010 et 2012. La pand\u00e9mie de Covid-19 est aussi favorable au cours de l\u2019or, qui augmente dans un contexte de crise sanitaire et \u00e9conomique. Mais ce sont surtout l\u2019ann\u00e9e 2022 et le d\u00e9but de la guerre en Ukraine qui offrent le parall\u00e8le le plus marquant entre contexte inflationniste et hausse du cours de l\u2019or. L\u2019IPC culmine \u00e0 5,2\u00a0% en 2022 et \u00e0 4,9\u00a0% en 2023, au moment m\u00eame o\u00f9 le cours de l\u2019or atteint de nouveaux sommets.[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_height_percent=\u00a0\u00bb0&Prime; override_padding=\u00a0\u00bbyes\u00a0\u00bb h_padding=\u00a0\u00bb2&Prime; top_padding=\u00a0\u00bb0&Prime; bottom_padding=\u00a0\u00bb0&Prime; overlay_alpha=\u00a0\u00bb50&Prime; gutter_size=\u00a0\u00bb3&Prime; column_width_percent=\u00a0\u00bb100&Prime; shift_y=\u00a0\u00bb0&Prime; z_index=\u00a0\u00bb0&Prime; content_parallax=\u00a0\u00bb0&Prime; uncode_shortcode_id=\u00a0\u00bb412601&Prime;][vc_column width=\u00a0\u00bb1\/1&Prime;][vc_separator sep_color=\u00a0\u00bb\u00a0\u00bb uncode_shortcode_id=\u00a0\u00bb352663&Prime;][\/vc_column][\/vc_row][vc_row row_height_percent=\u00a0\u00bb0&Prime; override_padding=\u00a0\u00bbyes\u00a0\u00bb h_padding=\u00a0\u00bb2&Prime; top_padding=\u00a0\u00bb3&Prime; bottom_padding=\u00a0\u00bb3&Prime; overlay_alpha=\u00a0\u00bb50&Prime; gutter_size=\u00a0\u00bb3&Prime; column_width_percent=\u00a0\u00bb100&Prime; shift_y=\u00a0\u00bb0&Prime; z_index=\u00a0\u00bb0&Prime; content_parallax=\u00a0\u00bb0&Prime; uncode_shortcode_id=\u00a0\u00bb111128&Prime;][vc_column width=\u00a0\u00bb1\/1&Prime;][vc_custom_heading uncode_shortcode_id=\u00a0\u00bb513699&Prime;]Comment int\u00e9grer l\u2019or dans une strat\u00e9gie anti-inflation\u00a0?[\/vc_custom_heading][vc_custom_heading heading_semantic=\u00a0\u00bbh3&Prime; text_size=\u00a0\u00bbh3&Prime; uncode_shortcode_id=\u00a0\u00bb834676&Prime;]Placement anti-inflation\u00a0: pourquoi la diversification est-elle essentielle\u00a0?[\/vc_custom_heading][vc_column_text uncode_shortcode_id=\u00a0\u00bb171734&Prime;]Une d\u00e9marche de diversification de patrimoine consiste \u00e0 <strong>construire un portefeuille de plusieurs actifs pour r\u00e9partir les risques\u00a0<\/strong>:<\/p>\n<ul>\n<li>Actions ;<\/li>\n<li>Obligations ;<\/li>\n<li>Immobilier locatif ;<\/li>\n<li>Assurance-vie en fonds euros ou diversifi\u00e9s ;<\/li>\n<li>Mati\u00e8res premi\u00e8res ;<\/li>\n<li>Etc.<\/li>\n<\/ul>\n<p>Le but est de se prot\u00e9ger des effets des crises, et de ne pas d\u00e9pendre d\u2019un seul support d\u2019investissement. Ainsi, un portefeuille diversifi\u00e9 peut aussi permettre de se pr\u00e9munir contre l\u2019inflation\u00a0: \u00e0 condition de choisir des produits pertinents, comme l\u2019or physique.<\/p>\n<p>Le portefeuille \u00ab\u00a0All Weather\u00a0\u00bb de l\u2019investisseur am\u00e9ricain Ray Dalio est par exemple con\u00e7u pour r\u00e9sister aux \u00ab\u00a0quatre saisons\u00a0\u00bb \u00e9conomiques. C\u2019est-\u00e0-dire \u00e0 la croissance, au ralentissement, \u00e0 la hausse de l\u2019inflation, ou \u00e0 la baisse des prix.[\/vc_column_text][vc_custom_heading heading_semantic=\u00a0\u00bbh3&Prime; text_size=\u00a0\u00bbh3&Prime; uncode_shortcode_id=\u00a0\u00bb124317&Prime;]Sous quelle forme investir en or pour se prot\u00e9ger de l\u2019inflation\u00a0?[\/vc_custom_heading][vc_column_text uncode_shortcode_id=\u00a0\u00bb593361&Prime;]Il existe plusieurs solutions pour investir dans l\u2019or\u00a0: l\u2019or papier et l\u2019or physique. <strong>Quand on parle de placement s\u00e9curis\u00e9 ou de protection anti-inflation, c\u2019est plut\u00f4t l\u2019or physique qu\u2019il faut viser<\/strong>. L\u2019or papier (ou ETF, Exchange-Traded Funds) correspond \u00e0 des indices boursiers qui reproduisent le cours de l\u2019or. Mais la contrepartie en or physique n\u2019est pas compl\u00e8tement garantie, et il s\u2019agit d\u2019un placement volatil, avec un risque de perte plus important.[\/vc_column_text][vc_custom_heading heading_semantic=\u00a0\u00bbh3&Prime; text_size=\u00a0\u00bbh3&Prime; uncode_shortcode_id=\u00a0\u00bb684850&Prime;]Quelle part consacrer \u00e0 l\u2019or dans un portefeuille anti-inflation\u00a0?[\/vc_custom_heading][vc_column_text uncode_shortcode_id=\u00a0\u00bb294677&Prime;]La r\u00e9partition d\u2019un portefeuille diversifi\u00e9 doit se construire en fonction du profil de chaque investisseur, de ses objectifs et de ses horizons de placement. Mais en g\u00e9n\u00e9ral, il est possible de <strong>consacrer entre 5 et 20\u00a0% des investissements \u00e0 l\u2019or<\/strong>.<\/p>\n<p>Si l\u2019on reprend l\u2019exemple du portefeuille \u00ab\u00a0All Weather\u00a0\u00bb, Ray Dalio pr\u00e9conise une part d\u2019or \u00e0 hauteur de 15\u00a0% du capital. Henry Browne, avec son portefeuille permanent, encourage \u00e0 s\u00e9parer les placements en quatre parts \u00e9quivalentes avec 25\u00a0% d\u2019or. Le reste comporte d\u2019autres classes d\u2019actifs comme les actions et les obligations.[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_height_percent=\u00a0\u00bb0&Prime; back_color=\u00a0\u00bbcolor-216272&Prime; overlay_alpha=\u00a0\u00bb50&Prime; gutter_size=\u00a0\u00bb3&Prime; column_width_percent=\u00a0\u00bb100&Prime; shift_y=\u00a0\u00bb0&Prime; z_index=\u00a0\u00bb0&Prime; content_parallax=\u00a0\u00bb0&Prime; uncode_shortcode_id=\u00a0\u00bb185033&Prime; back_color_type=\u00a0\u00bbuncode-palette\u00a0\u00bb][vc_column column_width_percent=\u00a0\u00bb100&Prime; gutter_size=\u00a0\u00bb2&Prime; style=\u00a0\u00bbdark\u00a0\u00bb overlay_alpha=\u00a0\u00bb50&Prime; radius=\u00a0\u00bblg\u00a0\u00bb shift_x=\u00a0\u00bb0&Prime; shift_y=\u00a0\u00bb0&Prime; shift_y_down=\u00a0\u00bb0&Prime; z_index=\u00a0\u00bb0&Prime; medium_width=\u00a0\u00bb0&Prime; mobile_width=\u00a0\u00bb0&Prime; width=\u00a0\u00bb1\/1&Prime; uncode_shortcode_id=\u00a0\u00bb949297&Prime;][vc_custom_heading text_color=\u00a0\u00bbcolor-180149&Prime; uncode_shortcode_id=\u00a0\u00bb938953&Prime; text_color_type=\u00a0\u00bbuncode-palette\u00a0\u00bb]Investir en or\u00a0: les erreurs \u00e0 \u00e9viter[\/vc_custom_heading][vc_custom_heading text_color=\u00a0\u00bbcolor-180149&Prime; heading_semantic=\u00a0\u00bbh3&Prime; text_size=\u00a0\u00bbh3&Prime; uncode_shortcode_id=\u00a0\u00bb191880&Prime; text_color_type=\u00a0\u00bbuncode-palette\u00a0\u00bb]Croire que l\u2019or est une protection imm\u00e9diate contre l\u2019inflation[\/vc_custom_heading][vc_column_text text_color=\u00a0\u00bbcolor-180149&Prime; uncode_shortcode_id=\u00a0\u00bb212441&Prime; text_color_type=\u00a0\u00bbuncode-palette\u00a0\u00bb]Une id\u00e9e re\u00e7ue consiste \u00e0 penser que l\u2019or r\u00e9agit instantan\u00e9ment \u00e0 la hausse des prix. En r\u00e9alit\u00e9, le cours de l\u2019or varie en fonction d\u2019une combinaison de facteurs tels que les taux d\u2019int\u00e9r\u00eat ou le contexte \u00e9conomique global. Dans une strat\u00e9gie de placement anti-inflation, l\u2019or doit \u00eatre envisag\u00e9 sur le long terme.[\/vc_column_text][vc_custom_heading text_color=\u00a0\u00bbcolor-180149&Prime; heading_semantic=\u00a0\u00bbh3&Prime; text_size=\u00a0\u00bbh3&Prime; uncode_shortcode_id=\u00a0\u00bb168692&Prime; text_color_type=\u00a0\u00bbuncode-palette\u00a0\u00bb]Se reposer uniquement sur l\u2019or pour contrer l\u2019inflation[\/vc_custom_heading][vc_column_text text_color=\u00a0\u00bbcolor-180149&Prime; uncode_shortcode_id=\u00a0\u00bb124022&Prime; text_color_type=\u00a0\u00bbuncode-palette\u00a0\u00bb]L\u2019or n\u2019est pas une r\u00e9ponse unique. En effet, une d\u00e9marche anti-inflation efficace repose sur la diversification, en combinant plusieurs types d\u2019actifs qui r\u00e9agissent diff\u00e9remment aux p\u00e9riodes de crises. Un professionnel de la gestion de patrimoine pourra d\u00e9terminer les meilleurs placements et leur r\u00e9partition dans un portefeuille.[\/vc_column_text][vc_custom_heading text_color=\u00a0\u00bbcolor-180149&Prime; heading_semantic=\u00a0\u00bbh3&Prime; text_size=\u00a0\u00bbh3&Prime; uncode_shortcode_id=\u00a0\u00bb372002&Prime; text_color_type=\u00a0\u00bbuncode-palette\u00a0\u00bb]R\u00e9agir avec ses \u00e9motions face au contexte \u00e9conomique[\/vc_custom_heading][vc_column_text text_color=\u00a0\u00bbcolor-180149&Prime; uncode_shortcode_id=\u00a0\u00bb121376&Prime; text_color_type=\u00a0\u00bbuncode-palette\u00a0\u00bb]Face \u00e0 l\u2019inflation, il n\u2019est pas rare de vouloir prendre des d\u00e9cisions rapides voire pr\u00e9cipit\u00e9es. Or, l\u2019\u00e9motion n\u2019est g\u00e9n\u00e9ralement pas bonne conseill\u00e8re en mati\u00e8re d\u2019investissement. Pour acheter de l\u2019or, une approche r\u00e9fl\u00e9chie et progressive reste pr\u00e9f\u00e9rable. En adoptant par exemple la m\u00e9thode du DCA (Dollar Cost Averaging)\u00a0: investir r\u00e9guli\u00e8rement et en petites quantit\u00e9s pour lisser les effets de cours, sans regarder les prix au quotidien.[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_height_percent=\u00a0\u00bb0&Prime; override_padding=\u00a0\u00bbyes\u00a0\u00bb h_padding=\u00a0\u00bb2&Prime; top_padding=\u00a0\u00bb3&Prime; bottom_padding=\u00a0\u00bb3&Prime; overlay_alpha=\u00a0\u00bb50&Prime; gutter_size=\u00a0\u00bb3&Prime; column_width_percent=\u00a0\u00bb100&Prime; shift_y=\u00a0\u00bb0&Prime; z_index=\u00a0\u00bb0&Prime; content_parallax=\u00a0\u00bb0&Prime; uncode_shortcode_id=\u00a0\u00bb138192&Prime;][vc_column width=\u00a0\u00bb1\/1&Prime;][vc_raw_html]%3Cdiv%20style%3D%22display%3Aflex%3Bflex-direction%3Acolumn%3Bgap%3A16px%3B%22%3E%0A%0A%20%20%3Ch2%3EQuestions%20et%20r%C3%A9ponses%20sur%20les%20placements%20anti-inflation%3C%2Fh2%3E%0A%0A%20%20%3Cdiv%20id%3D%22faq-container%22%3E%3C%2Fdiv%3E%0A%0A%3C%2Fdiv%3E%0A%0A%0A%0A%3Cscript%3E%0A%20%20const%20faqs%20%3D%20%5B%0A%20%20%20%20%7B%0A%20%20%20%20%20%20question%3A%20%22Comment%20prot%C3%A9ger%20son%20%C3%A9pargne%20de%20l%27inflation%20%3F%22%2C%0A%20%20%20%20%20%20answer%3A%20%60En%20gestion%20de%20patrimoine%2C%20une%20solution%20pour%20se%20prot%C3%A9ger%20des%20effets%20de%20l%E2%80%99inflation%20consiste%20%C3%A0%20adopter%20une%20d%C3%A9marche%20de%20diversification.%20Autrement%20dit%2C%20choisir%20plusieurs%20classes%20d%E2%80%99actifs%20pour%20r%C3%A9partir%20les%20risques%2C%20et%20ne%20pas%20d%C3%A9pendre%20uniquement%20de%20placements%20expos%C3%A9s%20aux%20variations%20des%20march%C3%A9s%20financiers.%20Une%20partie%20du%20capital%20peut%20%C3%AAtre%20consacr%C3%A9e%20%C3%A0%20des%20actions%20et%20des%20obligations%2C%20ou%20encore%20%C3%A0%20une%20assurance-vie%2C%20et%20une%20autre%20partie%20%C3%A0%20des%20actifs%20tangibles%20comme%20l%E2%80%99or.%20Les%20proportions%20sont%20%C3%A0%20d%C3%A9finir%20avec%20un%20professionnel%2C%20en%20fonction%20du%20profil%20et%20des%20objectifs%20des%20%C3%A9pargnants.%60%0A%20%20%20%20%7D%2C%0A%20%20%20%20%7B%0A%20%20%20%20%20%20question%3A%20%22Quel%20placement%20choisir%20pour%20contrer%20l%27inflation%20%3F%22%2C%0A%20%20%20%20%20%20answer%3A%20%60Les%20actifs%20tangibles%2C%20qui%20ont%20une%20valeur%20intrins%C3%A8que%20et%20qui%20ne%20d%C3%A9pendent%20pas%20des%20march%C3%A9s%20financiers%2C%20font%20partie%20des%20solutions%20anti-inflation.%20C%E2%80%99est%20le%20cas%20de%20l%E2%80%99or%20%3A%20une%20r%C3%A9serve%20de%20valeur%20universelle%20et%20un%20placement%20contracyclique%2C%20%C3%A0%20privil%C3%A9gier%20sur%20le%20long%20terme%20dans%20une%20optique%20de%20diversification%20et%20de%20protection%20du%20patrimoine.%60%0A%20%20%20%20%7D%0A%20%20%5D%3B%0A%0A%20%20const%20container%20%3D%20document.getElementById%28%27faq-container%27%29%3B%0A%0A%20%20faqs.forEach%28%28faq%2C%20index%29%20%3D%3E%20%7B%0A%20%20%20%20const%20item%20%3D%20document.createElement%28%27div%27%29%3B%0A%20%20%20%20item.className%20%3D%20%27faq-item%27%3B%0A%20%20%20%20item.innerHTML%20%3D%20%60%0A%20%20%20%20%20%20%3Cdiv%20class%3D%22faq-header%22%20onclick%3D%22toggleFaq%28%24%7Bindex%7D%29%22%3E%0A%20%20%20%20%20%20%20%20%3Cspan%3E%24%7Bfaq.question%7D%3C%2Fspan%3E%0A%20%20%20%20%20%20%20%20%3Csvg%20class%3D%22faq-arrow%22%20id%3D%22arrow-%24%7Bindex%7D%22%20width%3D%2218%22%20height%3D%2218%22%20viewBox%3D%220%200%2024%2024%22%20fill%3D%22none%22%20stroke%3D%22%231a2e1a%22%20stroke-width%3D%222.5%22%20stroke-linecap%3D%22round%22%20stroke-linejoin%3D%22round%22%3E%0A%20%20%20%20%20%20%20%20%20%20%3Cpolyline%20points%3D%229%206%2015%2012%209%2018%22%3E%3C%2Fpolyline%3E%0A%20%20%20%20%20%20%20%20%3C%2Fsvg%3E%0A%20%20%20%20%20%20%3C%2Fdiv%3E%0A%20%20%20%20%20%20%3Cdiv%20class%3D%22faq-body%22%20id%3D%22body-%24%7Bindex%7D%22%3E%24%7Bfaq.answer%7D%3C%2Fdiv%3E%0A%20%20%20%20%60%3B%0A%20%20%20%20container.appendChild%28item%29%3B%0A%20%20%7D%29%3B%0A%0A%20%20function%20toggleFaq%28index%29%20%7B%0A%20%20%20%20const%20body%20%3D%20document.getElementById%28%60body-%24%7Bindex%7D%60%29%3B%0A%20%20%20%20const%20arrow%20%3D%20document.getElementById%28%60arrow-%24%7Bindex%7D%60%29%3B%0A%20%20%20%20const%20isOpen%20%3D%20body.classList.contains%28%27open%27%29%3B%0A%0A%20%20%20%20%2F%2F%20Close%20all%0A%20%20%20%20document.querySelectorAll%28%27.faq-body%27%29.forEach%28b%20%3D%3E%20b.classList.remove%28%27open%27%29%29%3B%0A%20%20%20%20document.querySelectorAll%28%27.faq-arrow%27%29.forEach%28a%20%3D%3E%20a.classList.remove%28%27open%27%29%29%3B%0A%0A%20%20%20%20%2F%2F%20Open%20clicked%20if%20it%20was%20closed%0A%20%20%20%20if%20%28%21isOpen%29%20%7B%0A%20%20%20%20%20%20body.classList.add%28%27open%27%29%3B%0A%20%20%20%20%20%20arrow.classList.add%28%27open%27%29%3B%0A%20%20%20%20%7D%0A%20%20%7D%0A%3C%2Fscript%3E%0A%0A%0A%0A%3Cstyle%3E%0A%20%20.faq-item%20%7B%0A%20%20%20%20border%3A%201px%20solid%20rgba%28224%2C221%2C213%2C0.5%29%3B%0A%20%20%20%20border-radius%3A%208px%3B%0A%20%20%20%20margin-bottom%3A%2016px%3B%0A%20%20%20%20overflow%3A%20hidden%3B%0A%20%20%20%20background%3A%20%23fff%3B%0A%20%20%7D%0A%0A%20%20.faq-header%20%7B%0A%20%20%20%20display%3A%20flex%3B%0A%20%20%20%20justify-content%3A%20space-between%3B%0A%20%20%20%20align-items%3A%20center%3B%0A%20%20%20%20padding%3A%2016px%2020px%3B%0A%20%20%20%20cursor%3A%20pointer%3B%0A%20%20%20%20user-select%3A%20none%3B%0A%20%20%20%20background%3A%20%23f8f7f4%3B%0A%20%20%20%20transition%3A%20background%200.2s%20ease%3B%0A%20%20%7D%0A%0A%20%20.faq-header%3Ahover%20%7B%0A%20%20%20%20background%3A%20%23f0efe9%3B%0A%20%20%7D%0A%0A%20%20.faq-header%20span%20%7B%0A%20%20%20%20font-size%3A%2020px%3B%0A%20%20%20%20font-weight%3A%20500%3B%0A%20%20%20%20color%3A%20%231a2e1a%3B%0Afont-family%3A%22FlechaS%22%3B%0A%20%20%7D%0A%0A%20%20.faq-arrow%20%7B%0A%20%20%20%20transition%3A%20transform%200.3s%20ease%3B%0A%20%20%20%20flex-shrink%3A%200%3B%0A%20%20%20%20margin-left%3A%2015px%3B%0A%20%20%7D%0A%0A%20%20.faq-arrow.open%20%7B%0A%20%20%20%20transform%3A%20rotate%2890deg%29%3B%0A%20%20%7D%0A%0A%20%20.faq-body%20%7B%0A%20%20%20%20max-height%3A%200%3B%0A%20%20%20%20overflow%3A%20hidden%3B%0A%20%20%20%20transition%3A%20max-height%200.4s%20ease%2C%20padding%200.3s%20ease%3B%0A%20%20%20%20padding%3A%200%2020px%3B%0A%20%20%20%20font-size%3A%2016px%3B%0A%20%20%20%20line-height%3A%201.7%3B%0A%20%20%20%20color%3A%20%233a3a3a%3B%0A%20%20%20%20background%3A%20%23f8f7f4%3B%0A%20%20%7D%0A%0A%20%20.faq-body.open%20%7B%0A%20%20%20%20max-height%3A%20500px%3B%0A%20%20%20%20padding%3A%2010px%2020px%2020px%2020px%3B%0A%20%20%7D%0A%3C%2Fstyle%3E%0A%0A%3Cscript%20type%3D%22application%2Fld%2Bjson%22%3E%0A%7B%0A%20%20%22%40context%22%3A%20%22https%3A%2F%2Fschema.org%22%2C%0A%20%20%22%40type%22%3A%20%22FAQPage%22%2C%0A%20%20%22mainEntity%22%3A%20%5B%0A%20%20%20%20%7B%0A%20%20%20%20%20%20%22%40type%22%3A%20%22Question%22%2C%0A%20%20%20%20%20%20%22name%22%3A%20%22Comment%20prot%C3%A9ger%20son%20%C3%A9pargne%20de%20l%27inflation%20%3F%22%2C%0A%20%20%20%20%20%20%22acceptedAnswer%22%3A%20%7B%0A%20%20%20%20%20%20%20%20%22%40type%22%3A%20%22Answer%22%2C%0A%20%20%20%20%20%20%20%20%22text%22%3A%20%22En%20gestion%20de%20patrimoine%2C%20une%20solution%20pour%20se%20prot%C3%A9ger%20des%20effets%20de%20l%27inflation%20consiste%20%C3%A0%20adopter%20une%20d%C3%A9marche%20de%20diversification.%20Autrement%20dit%2C%20choisir%20plusieurs%20classes%20d%27actifs%20pour%20r%C3%A9partir%20les%20risques%2C%20et%20ne%20pas%20d%C3%A9pendre%20uniquement%20de%20placements%20expos%C3%A9s%20aux%20variations%20des%20march%C3%A9s%20financiers.%20Une%20partie%20du%20capital%20peut%20%C3%AAtre%20consacr%C3%A9e%20%C3%A0%20des%20actions%20et%20des%20obligations%2C%20ou%20encore%20%C3%A0%20une%20assurance-vie%2C%20et%20une%20autre%20partie%20%C3%A0%20des%20actifs%20tangibles%20comme%20l%27or.%20Les%20proportions%20sont%20%C3%A0%20d%C3%A9finir%20avec%20un%20professionnel%2C%20en%20fonction%20du%20profil%20et%20des%20objectifs%20des%20%C3%A9pargnants.%22%0A%20%20%20%20%20%20%7D%0A%20%20%20%20%7D%2C%0A%20%20%20%20%7B%0A%20%20%20%20%20%20%22%40type%22%3A%20%22Question%22%2C%0A%20%20%20%20%20%20%22name%22%3A%20%22Quel%20placement%20choisir%20pour%20contrer%20l%27inflation%20%3F%22%2C%0A%20%20%20%20%20%20%22acceptedAnswer%22%3A%20%7B%0A%20%20%20%20%20%20%20%20%22%40type%22%3A%20%22Answer%22%2C%0A%20%20%20%20%20%20%20%20%22text%22%3A%20%22Les%20actifs%20tangibles%2C%20qui%20ont%20une%20valeur%20intrins%C3%A8que%20et%20qui%20ne%20d%C3%A9pendent%20pas%20des%20march%C3%A9s%20financiers%2C%20font%20partie%20des%20solutions%20anti-inflation.%20C%27est%20le%20cas%20de%20l%27or%20%3A%20une%20r%C3%A9serve%20de%20valeur%20universelle%20et%20un%20placement%20contracyclique%2C%20%C3%A0%20privil%C3%A9gier%20sur%20le%20long%20terme%20dans%20une%20optique%20de%20diversification%20et%20de%20protection%20du%20patrimoine.%22%0A%20%20%20%20%20%20%7D%0A%20%20%20%20%7D%0A%20%20%5D%0A%7D%0A%3C%2Fscript%3E[\/vc_raw_html][\/vc_column][\/vc_row][vc_row][vc_column width=\u00a0\u00bb1\/1&Prime;][uncode_block id=\u00a0\u00bb13528&Prime;][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row row_height_percent=\u00a0\u00bb0&Prime; override_padding=\u00a0\u00bbyes\u00a0\u00bb h_padding=\u00a0\u00bb2&Prime; top_padding=\u00a0\u00bb3&Prime; bottom_padding=\u00a0\u00bb3&Prime; back_color=\u00a0\u00bbcolor-128411&Prime; overlay_alpha=\u00a0\u00bb50&Prime; gutter_size=\u00a0\u00bb3&Prime; column_width_percent=\u00a0\u00bb100&Prime; shift_y=\u00a0\u00bb0&Prime; z_index=\u00a0\u00bb0&Prime; content_parallax=\u00a0\u00bb0&Prime; uncode_shortcode_id=\u00a0\u00bb214504&Prime; back_color_type=\u00a0\u00bbuncode-palette\u00a0\u00bb][vc_column width=\u00a0\u00bb1\/1&Prime;][uncode_breadcrumbs][vc_custom_heading heading_semantic=\u00a0\u00bbh1&Prime; text_size=\u00a0\u00bbh1&Prime; uncode_shortcode_id=\u00a0\u00bb165762&Prime;]L\u2019or, un [&hellip;]<\/p>\n","protected":false},"author":29,"featured_media":0,"parent":13208,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"content-type":"","footnotes":""},"class_list":["post-14303","page","type-page","status-publish","hentry"],"jetpack_shortlink":"https:\/\/wp.me\/Pfl0yj-3IH","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.veracash.com\/fr\/wp-json\/wp\/v2\/pages\/14303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.veracash.com\/fr\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.veracash.com\/fr\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.veracash.com\/fr\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/www.veracash.com\/fr\/wp-json\/wp\/v2\/comments?post=14303"}],"version-history":[{"count":2,"href":"https:\/\/www.veracash.com\/fr\/wp-json\/wp\/v2\/pages\/14303\/revisions"}],"predecessor-version":[{"id":14482,"href":"https:\/\/www.veracash.com\/fr\/wp-json\/wp\/v2\/pages\/14303\/revisions\/14482"}],"up":[{"embeddable":true,"href":"https:\/\/www.veracash.com\/fr\/wp-json\/wp\/v2\/pages\/13208"}],"wp:attachment":[{"href":"https:\/\/www.veracash.com\/fr\/wp-json\/wp\/v2\/media?parent=14303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}