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The thing is, at the beginning of the pandemic panic, this didn’t happen at all. Instead everyone sold gold and the price dropped (same with bitcoin, which went
by alasdair_ 6y ago
The thing is, at the beginning of the pandemic panic, this didn’t happen at all. Instead everyone sold gold and the price dropped (same with bitcoin, which went to $3.5k) because they wanted liquidity rather than a speculative investment.
- jkhdigital 6y agoSame thing happened in 2008--gold dropped along with everything else after Lehman, but quickly turned around and was already making new highs while stocks were still bottoming out. Liquidity crises are anomalous events which don't say much about the long-term forces that move asset prices.