Why substituting cryptocurrency for gold exposure may be a costly mistake
Publishing timestamp: 2023-07-29 11:00:01
Summary
State Street Global Advisors' chief gold strategist believes that cryptocurrency is not a suitable substitute for gold due to its vulnerability to big losses. He highlights gold's historical track record as a hedge against inflation and weakness in the equity market and dollar. Despite gold's struggles to stay above $2000 per ounce, the strategist believes that the economic backdrop and relaxation of Covid-19 restrictions in China will support gold demand.
Sentiment: POSITIVE
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