...frightening , as I would not even envisage such a prospect!
...Gold does not need to follow all other industrial metals that suffer setbacks from a recession's demand destruction but somehow gets thrown out like the baby with the bath water. Gold equities have been positively correlated with equities in general except that they fall even harder. XGD is now down 36.5% from its 19 April 22 peak of 7705. We are about 6.6% from its next major support at about 4590. Below that, an abyss awaits.
...This thread has long opined that the safer way to play Gold is to buy AUD physical/digital Gold. In contrast to XGD, XAU or AUD Gold fell just 1.7% over the same period from 19 Apr 22, thanks to a large part to the weakening Aussie dollar.
