Gold Maintains Resiliency in H1
Hey there, gold enthusiasts! We’ve got some good news and bad news for you. Let’s start with the bad news: the price of gold hasn’t seen any major breakthroughs lately. But don’t fret, because here’s the good news: gold has remained stable and even increased by 5.4% against the U.S. dollar in the first half of this year. In fact, over the past five years, gold has gone up a whopping 53% against the greenback. Impressive, huh?
- The World Gold Council predicts that gold will continue to be supported by rangebound bond yields and a weaker dollar.
- If the economy worsens, gold will experience increased demand.
- A recession could lead to higher gold investment.
- Gold tends to outperform equities when the manufacturing purchasing managers’ index (PMI) is below 50.
- Bond yields have a bigger impact on gold than policy rates.
But hold on, there’s more! The World Gold Council’s analysis reveals that gold has been one of the top-performing assets in 2023, beating U.S. cash, U.S. bonds, and the MSCI EM Index. However, we can’t overlook the fact that bitcoin (BTC) has been the star of the show in the first half of this year, with an incredible 80% increase.
So, to sum it up, gold may not be skyrocketing right now, but it’s showing its resilience and maintaining a strong position. It’s a smart move to keep gold in your investment portfolio, especially during uncertain times. And hey, who doesn’t want a shiny piece of gold to call their own?
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