Why Keep Buying? Gold and Cryptos, assets worth holding
The market data from the USA has been consistently putting pressure on the gold price and has forced it to come off the January highs by as much 8%. This is significant basis this small window, but it may be an opportunity to add on more as the short-term data though positive is less than stellar. The Fed’s battle with the inflation they created is far from over and yet the interest rate hike to a 4.5% Fed Fund rate may not be the top.
The concern for investors and anyone holding cash is what will be the long-term effect on the economy and whether the rate increases will drive the US into another recession? Any additional Fed hikes will risk creating a much more unstable environment. In this case, equities are not safe and hence a major reason to continue to add gold as hedge against future declines remains imperative.
Of course, this is not good market news for the crypto space as it is recovering from the FTX crisis. However, I posit that the crisis was in fact good for the Crypto space. Why? Simply because it woke the investors up and they began to learn exactly what is Bitcoin, Ethereum and other Crypto assets. They are now doing their homework instead of playing it like a horserace and investing in the one with coolest name.
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