14 rate hikes and at least two more to come. GOOG went poo poo Iran said they will poo poo oil if messed with Israel ramping up military alertness Comsumer debt increased + interest rates on their cards + equity loans are going poo poo up and so on. Surprised the market has not gone through a 87 type sell off, yet.
not quite... it is attempts at hedging and flight to perceived safety. In a 'REAL' meltdown however, gold has little value. It is no longer used to back any major currency in the world. People still do it out of tradition, but haven't reassessed the value of that strategy as currencies changed