One reassuring thing that’s come out of the current US political turmoil is that gold is still an important safe haven. Yes, we live in a new world – digital age, cell phones, fast food kiosks, 3 year olds ordering pizza through Alexa listening in the living room, blah blah. But when something unexpected happens – boom! People sell stocks and buy gold. Yes, the 3500 year old relic. “The shiny metal you can’t use for anything.” Why? Because Maslow’s pyramid was right. At the bottom, people need security.
They need to know something is constant, and consistently holds value. That’s why Bitcoin is jumping around like a south-of-the-border jumping bean, and gold is comparatively flat. So while the current turmoil will end, hopefully not by being replaced by new turmoil, we have still more evidence to add to a 3500 year tall pile that gold is important. Today’s featured article gives a quick look at current pricing and points at some important levels.