Part of that rise is due to gold being a safe haven after the US has said that its a virtual certainty that the Ruskies attack Ukraine next week, except it will probably turn out to be US BS.
In any case if people are anticipating a war than that works to dampen markets, so shares are sold down as people move into cash. This will also happen to goldies but to a lesser extent. So the net effect of gold rising but war driving cash builds means goldies may mostly just tread water or rise only slightly imo.
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Part of that rise is due to gold being a safe haven after the US...
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