RATE Group | Analysts Question Gold’s Safe Haven Status – 2008 Data Shows Central Banks Oversaturated…
83235
post-template-default,single,single-post,postid-83235,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Analysts Question Gold’s Safe Haven Status – 2008 Data Shows Central Banks Oversaturated…

17 Mar Analysts Question Gold’s Safe Haven Status – 2008 Data Shows Central Banks Oversaturated…

Posted at 16:29h in Bitcoin News by

[ad_1]

Analysts Question Gold’s Safe Haven Status - 2008 Data Shows Central Banks Oversaturated Bullion Markets

After bitcoin prices dropped below the $5K region on Monday morning, gold also slid significantly. It saw a small spike in value after the Federal Reserve announced slashing the benchmark rate by 100 bps, but gold prices subsequently dropped below $1,500 per ounce hours later. The current sentiment has led people to question why gold hasn’t been a safe haven during the economic crisis. However, patterns from history and statements from analysts today indicate that central banks are offloading gold reserves in order to keep the economy afloat.

Also read: Edward Snowden ‘Felt Like Buying Bitcoin’ While Traders Hunt for the Market Bottom

Analysts Speculate Central Banks Are Offloading Gold Reserves

Gold bug Peter Schiff has had a bone to pick with bitcoin lately as he’s taken the opportunity to remind everyone that the cryptocurrency is not a safe haven. Even though digital assets have seen a significant decline in fiat value, gold prices have…

[ad_2]

Source link

Tags:
, , , , , , , , , , ,