‘Genuinely worried’ Asian investors flock to safe haven gold amid US dollar woes

South China Morning Post/Biman Mukherji/5-15-2023

“Long considered an alternative currency and safe-haven asset, gold has soared in popularity over the past month as investors in Asia’s trading hubs of Hong Kong and Singapore have flocked to the yellow metal, which has an inverse relationship with the trouble-beset US dollar.”

USAGOLD note: One retailer in Hong Kong reports 40% increase for April over March and 110% year to date. Most of the buying has to do with investor concern about the eroding value of their savings.