Gold’s haven appeal boosted the metal to a more than six-year high on Monday, as an escalating U.S.-China trade fight sparked a selloff in assets perceived as risky.
Gold, now up about 15% from its low of 2019, has surged over recent sessions after President Donald Trump intensified a trade fight with China by announcing additional tariffs on Chinese goods and China pledged retaliation.
When the two largest economies in the world are in the trade war that makes investors worried and pushes safe havens like gold up. Most people here are probably all into investing in bitcoin and crypto but before bitcoin gold was the best protection against deflating fiat currency. I've said in the past that people should own physical assets like gold and silver along with digital assets like bitcoin because you never know what the future holds. Bitcoin has been around for 10 years as money while gold has been around for 5,000 years. I don't think it's wise to bet against Gold and say Bitcoin will be the new currency of the world. Maybe Bitcoin will drastically outperforming Gold in the future but I see both forms of money outperforming government fiat. That's why I think it's wise to have a little bit of gold or silver tucked away because you never know what the future holds.
Silver is at about $16.50 right now. I'm looking forward to seeing that rise into the $20s again if this trade war keeps heating up.
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