Tuesday, January 19, 2021

Tag: Why We Rush to Gold in Times of Crisis

Why We Rush to Gold in Times of Crisis

from Birch Gold Group:

This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: How gold manages to stand out during every crisis, gold might be signaling a monetary collapse, and Swiss gold exports to the U.S. jump to eight-year high.

The reason we rush to gold whenever crises hit

For the gold market, the coronavirus crisis brought about another instance of familiar price action. Barring the initial rush to liquidity, people around the world were quick to search for a safe haven to pile into and quickly found gold to be the ideal choice. This, in turn, pushed the metal’s price to seven-year highs, as it has traded above $1,700 for two consecutive weeks.