Gold miners are having a better month than chips did in years
https://www.moneyweb.co.za/mineweb/gold-miners-are-having-a-better-month-than-chips-did-in-years/
https://www.moneyweb.co.za/mineweb/gold-miners-are-having-a-better-month-than-chips-did-in-years/
10 Comments
Carl@anarchist.nexus · 25 pts · 19d
The TL;DR is that gold prices spiking is a major sign that people are completely losing faith in the dollar, and are attempting to buy assets that will hold value better. People expect major inflation, and are attempting to buy gold (which will hopefully hold its value) instead of keeping all of their funds as dollars (which will lose value when inflation happens). But this sudden surge in gold demand has caused the recent price of gold to drastically spike.
schipelblorp@sh.itjust.works · 6 pts · 19d
Probably goes beyond just the US dollar; there are plenty of other stable currencies. The issue is we're staring down a devastating global economic collapse due to AI over investment.
Zarobi@aussie.zone · -2 pts · 19d
People trading their Stablecoin for Bitcoin
Albercik@szmer.info · 2 pts · 18d
Bitcoin a.k.a. "You will own nothing and you will be happy".
ryannathans@aussie.zone · 4 pts · 19d
Gold has dropped $1000/oz (or 800USD) since March
Albercik@szmer.info · 1 pts · 18d
Yes, which is telling a lot about chips stocks. Also zoom out.
Albercik@szmer.info · 1 pts · 18d
Thanks for sharing economics 101.
vatlark@lemmy.world · 3 pts · 19d
Maybe, but look at all the other months: https://portfolioslab.com/tools/stock-comparison/SGOL/SOXX
Amoxtli@thelemmy.club · -1 pts · 19d
Why is this in technology? John Maynard Keynes called gold a "barbarous relic".
Albercik@szmer.info · 1 pts · 18d
If only there been any connection between technology and chips. One can wonder.