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Friday, March 14, 2025

Trust 

Gold is like any other precious metal except that many trust its value and fly to it in times of financial distress.  There is no reason that it is a safe haven other than people believe it to be.  It's curious that other scarce metals like platinum don't react to market turmoil the way gold does. The psychology is interesting and it is worldwide, especially in countries like India where women buy gold jewelry to serve as family savings.  It is a quirk of human nature to place trust in it and not easily understood but accepted as a fact.  The same holds true for currency, especially the dollar, which is just paper but for the backing of the United States.  


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