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Chief Market Strategist at Equity Group: 8% Gold Decline and 10% Silver Drop is Not a Safe-Haven Move but an Inflationary Shock
Noor Al-Din Al-Hammouri, Chief Market Strategist at Equity Group, said that the 8% decline in gold and 10% decline in silver due to escalating war may seem like an illogical headline.
Al-Hammouri clarified in a post on (x), this is not a move toward safe havens. This is an inflationary shock. Rising oil prices ← Rising bond yields ← Rising US dollar ← Falling gold prices. This is the radical shift.
It is worth noting that the price of gold per ounce reached approximately $4100, while the price of silver per ounce reached approximately $61.
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