no, it is acting like it is a tech stock in a bubble. You might as well have invested in gamestop. That is not what gold is about, gold is about decoupling from the stock market (or cash in an inflation scenario) and preserving wealth in a crisis. There is still a need for an asset like that that, IMO.
Nice 10 year bubble!
Everything is a bubble if you zoom out far enough.
Yeah it caught some by surprise so I'm reading, got a pot waiting to go into market or crypto it's when and where to jump back in thoughCrypto will be causing some margin calls...
I'm kind of surprised the price of gold isn't moving much. I'd assumed inflation and stock market fears would both be sending the price up.
Tell me about it. I've been going on about inflation not being 'Transitory' as predicted for over a year now. I put a hedge in on gold accordingly. I got the inflation part right but golds response isn't what I expected...
I did wonder if enough 'inflation hedge' money was being diverted to crypto to make a dent in gold but the market cap of gold is about 10x of crypto.
Regarding cryptocurrency this made me laugh. A very funny (IMO) gamer-geek/exploit channel, but this is what happens if you stick $10 in every available cryptocurrency…
PS I’ve never had the confidence to buy-into crypto though do tend to kick myself I didn’t dive in right at the very start of bitcoin and mine a few. It just sounded like bollocks at the time.
PS I’ve never had the confidence to buy-into crypto though do tend to kick myself I didn’t dive in right at the very start of bitcoin and mine a few. It just sounded like bollocks at the time.
Gold and Diamonds aren't exactly saintly industries eitherThink about the environmental impact of bitcoin mining and feel virtuous that you didn't contribute to the damage!
Gold and Diamonds aren't exactly saintly industries either
Tell me about it. I've been going on about inflation not being 'Transitory' as predicted for over a year now. I put a hedge in on gold accordingly. I got the inflation part right but golds response isn't what I expected...
I did wonder if enough 'inflation hedge' money was being diverted to crypto to make a dent in gold but the market cap of gold is about 10x of crypto.
If you've no exposure to Crypto might be worth a look at cost averaging in a small % of portfolio.
The big mining outfits have been holding their BTC preferring to use traditional finance and pay interest. Dunno how far it'll need to drop to cause the big guys like HUT 8 and CANAAN to lose sleep.
If you've no exposure to Crypto might be worth a look at cost averaging in a small % of portfolio.