Gold shatters the $4,000 barrier amid global uncertainty, with experts predicting further gains as investors flee traditional assets for the safety of the precious metal
Investors feared that the uncertainty around a US government shutdown may also delay the release of economic data seen as crucial in determining the rate cut trajectory by the Federal Reserve.
Given the cautious outlook, Rahul Arora recommended diversifying holdings into gold, which may prove to be a strong hedge against the ongoing market volatility and uncertainty.
Trend reversals in gold prices are not uncommon but only when the myriad uncertainties are behind, and that is anybody’s guess
While cryptocurrencies have become popular as an asset class, its status as a safe haven has come into question after the recent market mayhem
The absence of ETFs and retail consumers in the market means that central bank and speculative buying are currently the primary drivers of gold prices.
The immediate trigger for a move in gold, on either side, will come from the Federal Reserve's monetary policy
In the past five months, China, a permanent, veto-wielding member of the UN Security Council, has put holds on as many listing proposals by India and the US to designate Pakistan-based terrorists under the Council's 1267 Al Qaeda Sanctions Committee regime.
Gold as an investment destination seems to be losing out, though gold purchases by consumers are showing promise. Its status as a safe haven may be in danger
Cryptocurrencies in their current form cannot be considered as a store of wealth. The current price behaviour also negates the argument of their being a hedge against the market.
There is a school of thought which believes that the dollar is poised to fall 20 per cent or more in 2021. But at least history doesn’t suggest so
Gold prices have already fallen about 10 per cent since their August peak above $2,000 a troy ounce, as confidence gradually returned to asset markets
A user can buy, sell, hold, or spend Bitcoin using PayPal’s wallet. With 346 million users, Paypal can take Bitcoin to a different orbit.
Gold seems to rally sharply even in the backdrop of weakness in the US Dollar. This counter intuitive move in gold prices is about investors viewing gold as an inflation hedge more than safe haven asset now
Not all is negative for gold, though it‘s also difficult to affirm that it will boom immediately from here on.
In India, Gold prices plummeted by Rs 300 to trade at over two-year low of Rs 25,700 per 10 grams at the bullion market.
Bullion is likely to maintain its safe-haven appeal amid renewed concerns over the global economy with data showing China's factory sector shrinking for the first time since 2012.
Greek leftist leader Alexis Tsipras, whose Syriza party swept to victory in a snap election on Sunday, was set to become prime minister of the first euro zone government openly opposed to bailout conditions imposed by the European Union and International Monetary Fund during the economic crisis.
Oil tumbled 5 percent to near six-year lows before recovering ground on Tuesday, and Brent briefly traded at par to U.S. crude for the first time in three months. Weaker oil prices tend to hurt gold as they reduce the need for the precious metal as a hedge against oil-led inflation
Spot gold was little changed at USD 1,248.95 an ounce by 0030 GMT, after dropping 0.6 percent on Wednesday, when it hit a three-month low of USD 1,243.56
Gold's 12-year bull-run ended in 2013, with prices suffering their largest annual decline since 1981 as the Federal Reserve's decision to taper its monthly asset purchases triggered heavy ETF selling.
As a traditional safe-have asset, gold typically rallies during periods of heightened economic risk, but in recent years gold's behavior has befuddled many analysts. Over the course of the over two-week US government shutdown, for example, gold has fallen 3.35 percent.
Cash gold slipped 1 percent to its weakest in 10 months at $1,541.24 an ounce after a steep decline in equities and a disappointing U.S. private-sector job report.
Little more than a dozen years after the region's crippling financial crisis, Southeast Asia is looking more a safe haven than a risky bet, with foreign investors souring on China and India and pouring money into markets proving resilient to the global gloom.
The precious metal - a store of value since Biblical times - hasn't been the safe haven that conventional wisdom would dictate but has traded like a risk asset, hammered by a resurgent US dollar and sinking in the downdraft of broader risk aversion.