Since the end of March, the S&P 500 share price index has fallen 13.4% as equity valuations have adjusted to surging inflation, increasingly tough talk from the US central bank and a rising chance of recession in the USA and Europe. The NASDAQ 100, heavily laden with faddish technology and overpriced growth stocks, has given up 19.6% over the same timeframe. A background of volatile and falling equity prices mixed with a radically transformed set of geopolitical circumstances should have been an ideal environment for a safe haven investment. And, yet, the price of gold has slipped 6.9%.
NSTL
