{"id":62141,"date":"2022-03-07T09:39:35","date_gmt":"2022-03-07T14:39:35","guid":{"rendered":"https:\/\/olduvai.ca\/?p=62141"},"modified":"2022-03-07T09:39:35","modified_gmt":"2022-03-07T14:39:35","slug":"russia-ukraine-prove-gold-is-still-the-best-safe-haven","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=62141","title":{"rendered":"Russia, Ukraine Prove Gold Is Still the Best Safe Haven"},"content":{"rendered":"
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Russia, Ukraine Prove Gold Is Still the Best Safe Haven<\/a><\/h3>\n<\/div>\n
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\"Russia,<\/p>\n
Image via Reuters\/Ilya Naymushin<\/span><\/div>\n<\/div>\n

This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Gold remains the best safe haven despite volatility, how geopolitical tensions are further compromising the bond market, and renowned money manager weighs in on new all-time highs for gold and silver.<\/p>\n

Gold\u2019s volatile week and why it matters little in the metal\u2019s trajectory<\/strong><\/p>\n

Last week has been a volatility showcase that is rarely seen in the gold market. Russia\u2019s invasion of Ukraine sent gold flying past its 2011 high and up to $1,976, the highest level in a year and a half. The very next day, gold posted considerable losses and ended Friday\u2019s trading session around $1,890. This surge and immediate slump in prices frustrated and disappointed a lot of traders, but we should remember that, for most of us, buying gold is not a trade. It\u2019s an\u00a0investment.<\/em><\/p>\n

Even so, there are many takeaways from these wild couple of days, and a few important reminders.<\/p>\n

Until a few months ago, gold was rangebound between $1,750-$1,800. The difficulty of breaching the resistance was noted by many. Yet now, we are treating $1,890 as a kind of support. It reinforces the notion that gold is being pushed up by many factors, and that geopolitical tensions are just one of them (and a recent addition).<\/p>\n

While gold can benefit from the kind of uncertainty we saw last week,\u00a0it\u2019s far from necessary<\/a>. The so-called \u201cgeopolitical play\u201d isn\u2019t a necessary force for\u00a0gold\u2019s price<\/a>\u00a0to continue climbing. Wells Fargo highlighted that even central bank rate hikes probably won\u2019t slow the metal\u2019s move to $2,000 this year.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Russia, Ukraine Prove Gold Is Still the Best Safe Haven Image via Reuters\/Ilya Naymushin This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Gold remains the best safe haven despite volatility, how geopolitical tensions are further compromising the bond market, and renowned money manager […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[18769,374,647,694,821,32746],"class_list":["post-62141","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-birch-gold-group","tag-gold","tag-precious-metals","tag-russia","tag-ukraine","tag-wealth-protection"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62141"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62141\/revisions"}],"predecessor-version":[{"id":62142,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62141\/revisions\/62142"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}