Gold Beats the S&P 500 YTD but Risks Abound for the Safe-Haven Asset
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In fact, India’s gold imports dropped 55% YoY to a three-year low of 39.66t in July due to higher prices and liquidity constraints in the financial market.”The Federal Reserve’s dramatic shift to an easing bias with the first U.S. rate cut in a decade has so far failed to lift the S&P 500. New Zealand’s decision to slash rates 50bp to record lows was the perfect example of an event that might trigger gold bulls, and the market has clearly responded.Gold bubbles are good and easy to short.— Dow (@mark_dow) August 7, 2019After Fed Chief Jerome Powell raised the concept of bitcoin as a possible competitor to gold as a store of value, XAU’s fundamentals as a haven have been put sharply into focus.
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