GOLD 0.51% $1,391.7 gold futures

Point taken and I know there's widespread opinion that...

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    Point taken and I know there's widespread opinion that tightening (hardly really happening right now ?) is thought to be bearish for the gold price but as I'm sure you'd be aware there have also been periods historically where both interest rates and the gold price have risen in tandem and consistent negative correlation is therefore questionable.

    I think it's a lot more complicated than just the yield question/comparison and many factors are involved which I certainly don't pretend to fully understand and think it's even more complicated than 'normal' in these unprecedented times of a global pandemic, MMT/QE experiments, generally 'risk on' environment, suppression of interest rates and the herd and others chase for yield, mispricing of risk resulting in malinvestment, very high levels of speculation and leverage and apparently historically elevated valuations in some/many ? asset markets. Add to that mix the long held unique reputation, attraction and qualities of the precious metal and that only adds to the complication.
    It'll be interesting to see what happens if/when the next intensive 'Risk off' event/environment falls upon us which it surely will eventually. I'd wager the gold price will go for a run again as it often does in such circumstances regardless of what interest rates/yield levels are.
 
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