"Gold just came off one of its worst weeks in nearly 15 years, with prices imploding just north of 10%. Things haven't been any better for silver, down over 15% in a week."
"Gold's fumble could be crypto's gain, especially with Bitcoin holding relatively steady, down just 2.5% and up 5.3%, respectively, in the past week and month."
"At the end of the day, the U.S. dollar is having its moment, but it might not be all too long before gold is marching higher again on the back of the 'debasement trade.'"
"You can't just have a massive surge without having to pay the price in the form of a correction. Arguably, the latest setback for gold and silver could be better for the gold fans still looking to build their positions."
Gold prices fell over 10% and silver over 15% amid geopolitical tensions and rising oil prices. This decline is attributed to liquidity issues rather than a failure of gold as a safe haven. Despite the current downturn, gold remains a lowly-correlated store of wealth. The U.S. dollar is strong, but gold may rise again due to the 'debasement trade.' The recent correction was expected after a significant price surge, potentially benefiting investors looking to increase their gold holdings.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]