黄金的沉寂

发自剑桥——原则上,持有黄金是为了应对战争、金融末日和大规模货币贬值的保险形式。而且自全球金融危机爆发以来,黄金价格一直被形容为反映全球经济不稳定态势的晴雨表。那么,黄金价格的跳水——从2011年8月的1,900美元/盎司跌到2013年7月初的1,250美元/盎司——就代表着人们对全球经济投下了信任票吗?

要说黄金市场显示出所有破产泡沫的经典特征就未免过于简单化了。毫无疑问,在从2003年七月的350美元/盎司迅猛上升到峰值的过程中,黄金成为了投资者们垂涎的对象。因为所有人都曾确信明天的黄金价格一定会比今天涨得更高,所以黄金价格一路高歌猛进。

医生和牙医们都开始抛售股票并购买金币。印度和中国对黄金首饰的需求飞涨。新兴市场国家的中央银行都将部分美元变成黄金。

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