The gold market over the past decade has indeed been incredibly fierce.
Just look at these numbers — in 2016, it was only $1,200 per ounce, and now it has broken through $4,700. The increase is nearly threefold, with an annualized return of about 15%. This steady upward trend indicates that there are structural factors supporting it.
Breaking it down, three main drivers have been exerting influence: risk aversion, inflation hedging, and US dollar depreciation. Central banks around the world haven't been idle either; over the past ten years, they have accumulated more than 4,000 tons of gold, w
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