Is it possible that gold is still a safe haven amidst geopolitical turmoil?

[FXOcrypto]

We know that the latest news about the Hamas vs Israel war became hot news at the end of 2023. The war that killed more than 21,000 civilians made Israel condemned by many countries. And many Israeli products were boycotted, losing billions of dollars due to the impact of the war.

And it seems that the escalation of the war has spread in the Red Sea, the Houthi group which supports Hamas has launched an attack on a cargo ship affiliated with Israel on the Red Sea. Thus increasing global geopolitical tensions.

Behind these geopolitical risk conditions, investors will of course choose assets that in their view are safe from geopolitical risk. To learn about the role of geopolitical risks in forex trading, we can read a good article on the FXOpen blog.

And talking about safe havens, besides finding safe haven currencies, you can also find safe haven assets. Gold is one of the popular safe haven assets and it has been proven that gold has always been valuable, in fact gold has been around since ancient times, and the intrinsic value of gold has never faded until now.

Is gold still able to be a safe haven in the midst of the current geopolitical turmoil? The current price of gold on Ticktrader FXOpen is 2062.68 and the price of gold in 2023 reached a high of 2135 on December 3. To be sure, we never know where the price of gold will go next, but reading history, gold from ancient times to modern times has always been valuable. The intrinsic value of gold has always been that it is a valuable precious metal.

 

[NeoMetallix]

It's lasted over 5000 years. It may go up and down in value but that's because it's highly manipulated. It's traded in paper which isn't honest.

Also going up and down is better than fiat currency that goes down always. When they say a currency is going up, it's only in relation to other currencies. Which means it's going down slower than the others.

 

[Monster Masterpiece]

I do not think gold will disappear from the world except if something goes out of the prediction or all gold is ordered so there is no more natural production like for example fuel that disappears that lets him reasonable investment.

 

[FXOcrypto]

The price of gold is indeed fluctuating, rising and falling following changes in the volume of gold transactions, this is more likely to be related to economic law, when demand increases and supply remains constant, the price will rise. Conversely, if demand falls and supply remains constant, prices will fall.

And gold is still widely used as jewelry and I don't think it will disappear and gold production is still ongoing. One thing that is interesting about gold is that it does not corrode and the color does not change over time

 

[Dismal_Bliss]

They call it the gold standard for a reason

Gold is a rock solid investment (pun intended). It has stood the test of time and will continue to do so into the future.

 

[Grant]

Gold is the one thing that seems to stay at a consistent price point and not rise or fall too much. If every other method of investment went away and Gold was the only option left, that would be enough for me. I feel as if nothing comes close to the worth gold has.