Is it possible that gold is still a safe haven amidst geopolitical turmoil?

Global world news is always interesting for forex traders and investors to pay attention to. Not long ago the world was shaken by the COVID pandemic, then news of the Russian invasion of Ukraine, and recently the Hamas vs Israel war which killed more than 21,000 civilians, and it seems that the escalation of the war could spread. Recently the Houthi group provided support to Hamas by attacking affiliated Israel cargo ships in the Red Sea.

War always results in casualties and damage to infrastructure and costs a lot of money.

As investors, of course, they will think about how to save their assets from the possibilities that occur as a result of war. So many investors are looking for safe havens, assets considered safe and unaffected by the impact of geopolitical tensions.

One very popular safe haven asset is gold. Will gold be investors' choice as a safe haven asset amidst the current turmoil of geopolitical tensions?

Usually, the price of gold is closely related to the value of the USD, when the USD weakens then gold often strengthens, conversely when the USD strengthens the price of gold decreases.

To learn about the role of geopolitical risk in forex trading, we can read a good article on the FXOpen blog, a complete discussion about geopolitical risk can broaden the insight of traders and investors.

Is gold still able to be a safe haven amid the current geopolitical turmoil? The current price of gold on Ticktrader FXOpen is 2062.68 and the price of gold in 2023 reached a high of 2135 on December 3. To be sure, we never know where the price of gold will go next, but reading history, gold from ancient times to modern times has always been valuable. The intrinsic value of gold has always been that it is a valuable precious metal.

Yes gold is still a safe haven , last year it had made a cumulative return of 12% which was much better that you would get by putting funds in crypto or usdt for an year on exchanges , so it has time to time proven again and again ,, that it can always protect you from inflation and can give you a good earning as well ,but the choice is dependant on the people , usually much people these days go for usd option for saving money .

Yes, gold is often considered a safe haven asset during times of geopolitical turmoil. This is because gold has historically retained its value and acted as a hedge against inflation and currency fluctuations. Investors tend to flock to gold during uncertain times as it is seen as a store of value and a reliable asset. However, it is important to note that the value of gold can still fluctuate and is subject to market forces, so it is not a guaranteed safe haven.

Yes, gold is often considered a safe haven asset during times of geopolitical turmoil. Its value tends to rise when there is uncertainty in the global economy or political instability. Investors view gold as a store of value and a hedge against inflation and currency fluctuations. The demand for gold increases during such periods as investors seek to protect their wealth. However, it is important to note that the effectiveness of gold as a safe haven can vary depending on the specific geopolitical situation and other market factors.