Gold: a very traditional debating point

It’s been a very long time since we last ran a thread on gold – it seems to be this one from 2015, when CU wrote: Gold hits a five year low; a positive message?

Well, turned out 2015 was not just a five-year low, it was a turning point, with gold on a rising trend thereafter,  There was a high in July 2020;  Russia’s invasion of Ukraine didn’t seem to register much; and the 2020 peak has been surpassed comfortably all this year.  Somebody will doubtless have a chart-based view: and I’d note that many key commodities seemed to have turned a corner just recently (certainly the energy-related ones I look at). 

Given that the gold market has many of the hallmarks** of a fair & easy place to invest and trade – deep liquidity; transparency; security (if you don’t get suckered by the wrong platform) – the old discussion-points bear dusting off.  Do we have here the perfect hedge against Bad News?   That tends to be my way of looking at it.  Was 2015 a good year for news?  There’s certainly a load of grim tidings circulating this year.  Of course, some folk view gold like others see Bitcoin – a market phenomenon with plenty of emotion & sentiment surrounding it, but nothing to take seriously.

What do we think?  Over to t’readership.

ND

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** sorry about that