热门标签

Allbet官网:Gold still a safe-haven asset

时间:1周前   阅读:6   评论:4

皇冠正网www.hg108.vip)是一个开放皇冠正网即时比分、皇冠正网开户的平台。皇冠正网开户平台(www.hg108.vip)提供最新皇冠登录,皇冠正网APP下载包含新皇冠体育正网代理、会员APP。

Shopping fo jewellery at the Poh Kong outlet.

PETALING JAYA: Gold relationship as an inflation hedge is getting more tenuous as the current high inflation period shows but analysts believe its role as a safe-haven asset remains, especially in portfolio diversification purposes.

Historically, during the era before World War 1 in 1914, the price of gold was typically tied to inflation but price action in the precious metal in the past six months suggested it has lost its traditionally hedging role.

“Gold’s role as an inflation hedge has always been tenuous in the post-2000s world, except for a brief day in the sun as the global financial crisis gathered pace.

“I believe gold remains a decent hedge for extremely high inflation – so if you lived in Turkiye, Argentina, Zimbabwe or Venezuela, you would probably own some gold.

“However, in an elevated inflation environment as we are seeing today, I do not believe its price is dictated by it,” Oanda Asia-Pacific senior market analyst Jeffrey Halley told StarBiz.Gold’s role as a safe haven look more secure as the precious metal spiked from about US$1,804 (RM8,029) a troy ounce in early February to US$2,000 (RM8,901) level on world markets in March after Russia invaded Ukraine.

Shopping fo jewellery at the Poh Kong outlet.

However, the gain was not sustained and has since declined to a low of US$1,718 (RM7,646) on July 21, despite inflation in the United States rising to a four-decade high of 9.1% in June.

,

Allbet官网www.aLLbet8.vip)是欧博集团的官方网站。欧博官网开放Allbet注册、Allbe代理、Allbet电脑客户端、Allbet手机版下载等业务。

,

“There is no doubt that gold price movements are now dictated by a combination of the direction of the US dollar and US yields.

“If the US dollar and US yields have or are near a peak, then gold should start moving higher over the rest of the year and into 2023.

“But gold’s price action was underwhelming, above US$2,000 (RM8,901) an ounce and it would not surprise me if inflation remains more elevated and for longer than current market pricing,” Halley added.

From a trading perspective, he said, it begs the question of why trade gold when it is just an inverse price movement of the US dollar and US yields; both of which are far more liquid markets.

Market expectations of a less aggressive Federal Reserve (Fed) in September and going forward as inflationary pressures ease saw the precious metal edged higher to close at US$1,774 (RM7,904.94) last Friday but the strong job data could see renewed downside pressure return.

Academic research over the years has found gold to be a poor inflation hedge, with moments when the relationship is visible, said Dr Obiyathulla Ismath Batcha, professor of finance at the INCDF University.

He said the current high interest-rate environment makes the precious metal far more expensive to hold, which could be why gold’s price edged lower as rates rose as the opportunity cost of holding a non-productive asset would not make sense.

上一篇:最新博彩网址:Are exporters making a killing from the low rate?

下一篇:欧博手机版(www.aLLbet8.vip):Whole-of-government, whole-of-society approach in kids\u2019 citizenship debacle

网友评论

  • 2022-08-16 00:19:53

    THE bodies of two children and an adult believed to be Myanmar nationals were found near the Middle Ring Road 2 bridge, suspected to have been thrown off by unknown parties.单纯觉得好看

  • 2023-01-22 00:18:10

    本报青岛7月15日讯(记者 孙军)今天,青岛市教育局、人社局、财政局等联合印发《关于全面推进中小学教师队伍梯队发展的意见》,提出到2024年,青岛“教育名家”达到百人以上,青岛名师、名校长、名班主任数以千计,市级骨干教师数以万计,实现城乡优质师资倍增。看得心动