Spot Gold Biggest Intraday Jump in Five Years

Large natural gold nugget

The spot gold price rose as much as 3.8% to as high as $3.095.13 an ounce Wednesday, the biggest intraday increase since March 2020!

“Gold is currently the ultimate safe haven as worries about US fiscal stability continues to rise,” said Ole Hansen, head of commodity strategy at Saxo Bank AS.

Spot Gold Biggest Intraday Jump in Five Years

gold nugget

Gold has enjoyed a powerful run this year — including a record high last week — but had been caught up in the global selloff over the past few days as the scale of Trump’s trade shake-up was revealed. Even though bullion is a traditional haven, extreme market disruptions can prompt investors to sell the asset to cover losses elsewhere.

Jim Rickards says it can go to even 2000% or higher, because in the last two bull market gold went up 1600% and 600% or so. the point is; Gold is a long term asset that have been existed for thousands of years so it has value and it will go up.

The price of gold also reflects the fact that is a highly fungible medium of exchange. Any global crisis that seems to or actually does threaten governments and international stability creates new incentives to buy gold in greater quantities. Gold prices will rise during such a crisis because people and companies are buying gold as security against the failure of normal currency. In fact, any study of peaks in a gold price chart will show a close correlation of gold prices to past global disasters, wars and other catastrophic events.

Spot Gold Biggest Intraday Jump in Five Years

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