The jewel that never tarnishes, gold, has seen a slip in its otherwise consistently high prices. A dip of 3.9% has caught the update of investors and gold watchers alike, begging the question if this renowned ‘safe-haven’ is losing its sheen.
Analysts across the globe are trying to unravel this unexpected downslide. Growing economic confidence has led investors to revert to riskier assets, leading to a temporary turn away from gold. Moreover, the surge in cryptocurrency popularity has posed a significant diversion. Also, expectations of tightened monetary policies by central banks around the world have also added to the downward pressure.
With prices hovering around $4,768 an ounce, it is speculated whether prices might fall further. Nevertheless, while current trends suggest a short-term decrease, gold’s inherent value and the uncertainty of global markets make it an ultimate long-term hold.
Taking into account its historic resilience in times of crisis, it would be presumptuous to dismiss gold’s value based on a short-term dip. Some predict a pullback, some a meteoric rise, but all agree: gold’s long run is far from over.
Time and the market alone will reveal whether tomorrow’s headliner will be the fall below $4,768 or the comeback of this eternal asset. Until then, we watch and wait. Read More
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