The price of gold has plunged over the past week, but is still up more than 10% this year and has nearly doubled since the start of 2025.
Is it just a bubble? Or are there sound reasons for gold’s safe-haven appeal?
Clearly, speculation is part of the story. FOMO has amplified fear of geopolitical & financial turmoil.
But in a time of war and Western sanctions, geopolitical upheaval & loss of trust in the dollar, gold is also a valuable form of insurance that has stood the test of time.
And it can also offer a decent return. Ignoring the past year’s exuberance, gold appreciated by an average of 9% a year between Jan 2000 & Jan 2025.
The caveat: if gold becomes a more mainstream financial asset, it may lose some of its safe-haven properties.
Read my latest column for The Brussels Times
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Time for EU bonds to shine
As Trump’s destructive chaos leads global investors to desperately search for safe alternatives to US Treasury bonds, the EU has been given an unprecedented opportunity.
In addition to satisfying investor demand, a large issuance of common EU bonds would strengthen Europe’s economy, security, and policymaking autonomy.
Read my latest column for Project Syndicate