The price of gold, an asset regarded as a safe haven, went through unusual enhanced volatility as it dipped by roughly 5% in a matter of hours. Despite bouncing off almost immediately, the precious metal is still about 9% down since the start of the year.
Naturally, this has raised speculations among the cryptocurrency community whether gold’s status as a hedge is up for grabs, as the so-called (by some) digital gold – namely bitcoin – continues to ride high.
Gold Dipped Hard
The yellow metal, a favorite safe haven investment tool for many, especially in times of economic uncertainty, has gone through several somewhat untypical market cycles since the start of the COVID-19 pandemic.
It was considered expected to a large extent when its price against the dollar started to increase as the latter was depreciating following the massive money printing. As such, gold went to an all-time high last year of nearly $2,100/oz.
However, it reversed its trajectory at that point and started gr
Źródło: https://cryptopotato.com/after-a-5-crash-in-hours-golds-price-down-9-ytd-while-bitcoin-is-up-50/
