“Stagflation and gold are better bedfellows than anything you will read in 50 Shades of Grey, and once gold comprehensively broke $2000.00 overnight, the rally accelerated sharply as expected. Gold rocketed 2.63% higher to $2050.00 an ounce, edging slightly higher to $2053.00 in Asia,” Jeffrey Halley, senior market analyst, Asia Pacific, OANDA, said. “The stagflationary factors that are so supportive of gold are persisting and will remain so.
Source: https://www.coindesk.com/markets/2022/03/09/market-cap-of-gold-backed-cryptos-surpass-1b-as-yellow-metal-nears-record-high/?utm_medium=referral&utm_source=rss&utm_campaign=headlines