Gold has been seeing some volatile trades as well in the past few sessions, not least with margin calls and liquidations factoring into the risk-off equation as a whole. In broader markets, we’re seeing yields surge while stocks are plunging and that is a major alarm bell calling for a recession. As we see a further devaluation in the Chinese yuan, this is perhaps where gold might just find an edge amid all the chaos.
The risk of capital flight with investors also not favouring safety in the dollar thus far makes gold a somewhat attractive proposition
Gold looks to jump back up after a brief stint under $3,000
