Gokd has held very well considering the turmoil in other markets.
Central Bank buying has been the key.
Just think all those CBs that sold their gokd reserves near the lows, NZ included.
Bloody disgrace.
Cost of carry is still high but set to improve with lower interest rates.
$3k is highly likely imo, but I have been saying that since it was trading around $1850....
Gokd has held very well considering the turmoil in other markets.
Central Bank buying has been the key.
Just think all those CBs that sold their gokd reserves near the lows, NZ included.
Bloody disgrace.
Cost of carry is still high but set to improve with lower interest rates.
$3k is highly likely imo, but I have been saying that since it was trading around $1850....
Yes if we indeed are running into GFC 2.0 .. will GOLD play out the same way surge like it has pre-crash then fall as many larger holders need to raise capital ??
Gold's downturn in 2008 turned out to be a bump in the road on the way to nearly $1,900/oz three years later. But why did gold fall so much in the first place? Isn't it a safe haven in times of market stress?
At the height of a selling panic like we saw in the financial crisis, everything that's not bolted to the floor tends to get liquidated. That means liquid assets such as gold are often among the first things that get sold. As a result, for several months, even the precious metals followed the stock market lower.
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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Originally Posted by Daytr
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