Quote:
Originally Posted by CoachKandSportsguy
With interest rates rising, gold is less appealing, which is why gold hasn't done much recently, as the dollar has remained stronger than most currencies with the best economic growth and recovery outlook. So don't expect gold to go to $3000 anytime soon. . .
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The recent performance of gold has been extremely disappointing, historically gold has skyrocketed during times of hyper inflation. I suspect a big reason for that is crypto investing. Our generation has always wanted to own some real tangible assets other than stocks and bonds and gold was considered the benchmark for that. Now many investors, especially younger generations, are comfortable owning something that is nothing more than a digital entry with absolutely no backing. Crypto has siphoned away much of the demand for gold. I want to queue up my physical gold for a quick sale if/when crypto ultimately crashes and burns because that’s the new trigger point that will send gold prices spiraling upwards.