Gold — traditionally seen as a safe haven investment and a hedge against inflation — has been under remarkable price pressure recently.
And traders think it has further to go. To illustrate, this chart shows the surge in speculative bets that the gold price is poised to fall further:
A lot of this is about the strength in the US dollar, which is the benchmark currency for pricing gold. But there’s more at work and it’s one of the topics we tackle on this week’s episode of Devils and Details featuring Jordan Eliseo, chief economist at ABC Bullion, Australia’s largest precious metals specialist.
With it being 10 years on from the GFC — Eliseo was working in finance in London at the time — we kick off with some memories of the economic shock that reverberated around the world. We also talk about the pressure on cryptocurrency prices and take a look at the domestic outlook for Australia with house prices still falling but job creation looking strong in this week’s August labour force data.
Search “Devils and Details” wherever you get your podcasts, or find it here on iTunes — and don’t forget to subscribe, rate us, and leave a review. You can also listen online here or tune in below. Enjoy!
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