• Price Change UP Icon Gold $2,231.00 +41.00
  • Price Change UP Icon Silver $24.95 +0.39
  • Price Change UP Icon Platinum $915.00 +11.00
  • Price Change UP Icon Palladium $1,026.00 +25.00
Diversification
August 9, 2023

Are benefits of diversification least obvious when equity prices increase?

Bloomberg, by Debarati Roy in
Share On Social Media

”Gold futures fell as U.S. equities climbed to a record and the dollar’s rally curbed demand for the metal as an alternative investment.

The Standard & Poor’s 500 Index of stocks topped 1,900 for the first time, and the greenback climbed to one-month high against the euro.  Gold slumped 28 percent last year as equities surged to a record and inflation remained muted.  Declines may be limited as escalating tensions in Ukraine spur haven demand.

‘The equity market continues to rise and the dollar’s strength is making gold less popular,’ Fain Shaffer, the president of Infinity Trading Corp. in Indianapolis, said in a telephone interview. ‘Some buyers, however, are picking up gold because of Ukraine.’

Gold futures for June delivery slipped 0.1 percent to $1,294.80 an ounce at 1:38 p.m. on the Comex in New York. Earlier, the price fell as much as 0.5 percent.

The metal rose 7.7 percent this year on the Eastern European crisis. ‘Terrorists’ attacked a Ukrainian army convoy near the separatist-held city of Slovyansk, killing six people, Interfax reported, citing Ukraine’s Defense Ministry.”

*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.

Get Your Free Report
A Rising Storm
All form fields are required *
Thank You

Want your kit sooner?

Faster delivery
is available by phone.

800-444-8317

Download Your Report

Enter your phone number to be connected to a Monex Account Representative.

Thank You
Want your kit sooner?

Faster delivery is

available by phone.

800-444-8317
All form fields are required *
Embed Spot Prices!
Copy and Paste below code into your HEAD tag / before end tag of body to embed chart.
Copy and paste code below wherever you want your chart displayed.
Copied to clipboard
Embed This Chart!
Copy and Paste below code into your HEAD tag / before end tag of body to embed chart.
Copy and paste code below wherever you want your chart displayed.
Copied to clipboard
FREE REPORT OFFER
A Rising Storm
Thank You
Please check your email for a confirmation link and Free Report!
I agree to receive news and promotional material from this website and understand I can cancel at any time. Privacy Policy