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On the same day that eToro highlighted the perks of silver, in a new special report, AvaTrade have expressed the potential that gold has amid the growing civil unrest in the US right now.
Much like when the covid-19 pandemic happened and when employment fears were high, AvaTrade has highlighted the asset as “somewhat immune” to the latest issue on the US market, namely, the civil unrest stemming from the Black Lives Matter movement.
This is highlighted by today’s news that the gold is in fact trading higher today by $6 or 0.40%. Already gold hit a high of $1,765 on May 5th. However, now early speculators are saying that this could soon increase to as high as $2,000 if the protests continue and traders look for somewhere where their funds can be safe.
As per AvaTrade, “Gold is known as a safe-haven asset and it tends to increase in popularity with investors when geopolitical tensions, civil unrests, and protests break out. Weak economic growth, higher unemployment rate, and anchored poverty level are the usual sparks for this fire. Given the chaos that we are experiencing in the US over these problems, the path of least resistance for gold prices seems to be skewed towards the upside.”
Read the report in full and trade gold at AvaTrade.