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Has Gold Lost Its Safe Haven Status?
From robinjbrooks.substack.com
Yesterday’s post was motivated by a recent ECB report that’s created the impression gold is replacing the Dollar as central banks’ favored reserve asset. That’s not what’s going on. Last year’s big run-up in prices mechanically pushed up the value of central bank gold holdings, making it look like they were adding gold to their reserves, when in fact this was really just valuation gains showing up on central bank balance sheets. There’s been no buying frenzy among central banks and no sign Western sanctions on Russia made gold more sought after. If anything, the shoe is on the other foot. Gold hasn’t ... (full story)
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- Jun 5, 7:00am | 8 hr ago Posted byFundamental Analysis32,927
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