Crude oil prices moved higher after the EU upped its growth forecast the day after the Saudi Foreign Minister Abdel Jubeir said the Saudi led coalition would consider ending airstrikes in Yemen for humanitarian reasons.
Actual real world experience, evidence and academic research on the gold market are frequently ignored in favor of the simplistic and often the misleading. This will change in the coming years when there is a realization as to the importance of gold as a diversification and as a means of preserving wealth.
Billionaire hedge fund manager John Paulson, who told investors as recently as last month that they should own gold, cut his holdings in the metal by more than half as prices plunged into a bear market.
David Einhorn, whose Greenlight fund took a big hit on its gold miners ETF holdings, said recently what we would consider an understatement: "We were somewhat surprised by the swift decline in the price of gold in April."
The currency by which one measures value will be the ultimate way of measuring risk. Furthermore, the recent increase in currency dilution because of rampant money printing has and will continue to result in currency debasement.
Soros’ gold ETF sale is again garnering much media coverage. It is worth noting that his position was quite small especially when compared to levels of demand coming from consumers in Asia and central banks internationally.