Surging Equities Reduce Allure of Gold as Inflation Rages On
Gold-backed exchange-traded funds (ETF) are losing their safe haven appeal amid fears of an economic slowdown in the United States, well-performing equities and increasing bond yields even as inflation continues to ravage the global economy. Precious metals such as gold have traditionally enjoyed safe-haven appeal in times of political and economic upheaval as they can retain their value even as other assets and fiat currencies depreciate. In past years, geopolitical turmoil and economic slowdowns have consistently increased investor interest in gold as investors have sought to store their money in nondepreciating assets. A mini-crisis in the U.S. regional banking sector…