Since the economic crisis created by the COVID pandemic, the corporate media machinery has been pushing the idea that the US dollar is proving its resilience. Such resilience may prove short lived.
As reported by Asia Times, “Gold prices approached the $2,000 mark as investors piled into the yellow metal as the US Federal Reserve is expected to signal a higher tolerance for inflation at its two-day meeting starting later in the day… ‘Overall, potential developments are still stacked against the USD at this juncture. The risk is that everyone is on the same side of the boat now, and that generally risks some snapback ahead’ Terence Wu, a strategist with OCBC, said.”
Gold vs the US dollar’ is an old debate. The fact is that in times of uncertainty, gold is still a secure and preferred choice for many people to safeguard their wealth.
As the economic uncertainty continues due to COVID-19 crisis, people will naturally seek ways to safeguard their wealth. Gold provides a traditionally safe method.
Courtesy: Asia Times