Gold often soars during crises. Not this time — so what’s going on?
From globalnews.ca
The Iran war continues to roil global markets, but gold isn’t shining so brightly right now even though many have long considered it a safe haven during a crisis. Gold prices fell about four per cent on Tuesday to roughly $5,124 an ounce as of publication, and some experts say this dip is because of strength in the U.S. dollar. “The dollar is absolutely roaring away, as are U.S. Treasuries, and that’s providing a strong headwind to gold and particularly silver,” said independent analyst Ross Norman in an interview with Reuters. Commodities like gold and oil are priced in U.S. dollars because it is considered the most ...
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