$XAUUSD at 4185.78, up 0.73% today. Is this purely a safe-haven bid given global uncertainties, or are we seeing more long-term inflation hedge positioning? Seems to be a bit of both.
Interesting point. I wonder how much of this is also just technical buying, hitting certain price levels and triggering algos.
I'm leaning more towards the safe-haven argument right now. With all the geopolitical tension, it's a natural move for capital.
Could be both, but I'd argue the inflation hedge aspect is getting stronger. Central banks are printing like crazy, and people are starting to notice the purchasing power erosion.