According to many, Gold did not perform as it was in 2021 and 2020. In 2020, gold experienced a rise movement due to the COVID-19 dynamics. However, last year and this year’s price movements are seen by many market experts, expressed by many. Blackrock Inc. The Fund Manager Russian Koesterich pointed out that gold is not able to act as in 2020 ”and announced that the global economy was recovering, while the company has sold almost all of the gold in the hands of the company with the expectation of normalization.
Blackrock manager announced that he sold his gold
“Fourteen months ago, we had a very important position underneath, B Blackrock Global Allocation Fund manager Koesterich, in an interview with Bloomberg Television, said today we have reduced it to almost zero today.” “Our opinion is that if real rates are a little normalized, it is not possible for the commodity to work as well as in the middle of 2020,” he said.
Gold fell more than 7 percent in 2021 after an investor’s money wave last year. Global economic recovery and high inflation levels have increased the likelihood of central banks to reduce incentive packages, which will reduce the charm of gold. The US Federal Bank is thought to be able to announce the timeline to reduce bond recruitment at a meeting next week. Many market experts predict that the rate of reducing bonds will be very important for gold.
Koesterich: Gold will no longer function against shares.
Koesterich said that the expectations of US bonds that the corrected returns will increase according to inflation, which means that precious metal will no longer function against stock markets. In addition, it does not think that the most effective protection against short -term inflation. For example, by showing the industry, materials and consumer sectors, “Instead of having an asset that does not provide cash flow, we prefer to protect a portion of the short -term rise in inflation with shares with pricing power.”
Opening the week from $ 1,793 levels and ounce of gold, which exceeded $ 1,800 for a short time on Tuesday, has declined to $ 1,765 during writing. Kriptokoin.comAs we reported as a harsh decline yesterday, $ 1,753 levels were seen. Dear metal, 0.6 percent of the last 24 hours suffered depreciation.
