Amrith Ramkumar

speaker

860 appearances 16 recordings 1 series first heard May 2018 last heard Sep 2021

Amrith Ramkumar’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Gold Had a Great Year, But Will It Remain a Safe Haven? · 29 Apr 2021 podcast

But usually people investing in it are doing it for one of those broad reasons.

In general, a lot of financial advisors recommend investors allocate at least a small portion of their portfolio to gold as a hedge.

So it's a precious metal.

Its value tends to be relatively stable when the economy's going bad.

That's why we saw the coronavirus pandemic spark a big surge in prices, for example.

So that's why people recommend usually holding at least a small amount.

It depends when you look at it, JR.

This is, again, one of the biggest debates in markets.

So again, last year, for example, we saw the pandemic start roiling markets and prices shot up and they rallied for a while and they set records last August above $2,000 a troy ounce.

Again, some of that was driven by the fundamentals, but when gold, like any other asset, rallies, a lot of people pile into the space-seeking gains.

So a lot of times people say it tends to overshoot what would fundamentally be justified.

And so if people held gold throughout and didn't take any profits, the price has fallen $200 to $300 since then, depending on what time frame you're looking at.

In general, yes.

Like when the economy is going bad, when markets like stocks that are mainstream are struggling, when people expect interest rates to fall, the price of gold will generally go up.

But like anything else, it can overshoot and it is extremely volatile.

I think that's one of the biggest misconceptions people hear about.

Safe haven, they think, very stable price, doesn't fluctuate that much.

Actually, the price of gold, it is quite common for it to move 1% in a day for no real particular reason.

So there are a lot of different relationships that move it, like lower bond yields tend to boost gold because government bonds are another safe haven asset.

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