This year’s most spectacular and reliable bull market has been in geopolitical crises. Even in this most tumultuous of environments, though, virtually no one had nuclear-armed India and Pakistan coming to literal blows on their Bingo card. This isn’t just true of the folks in the trading pits in New York and London but also in Mumbai and Karachi. Suddenly, dustups between China and US seem less scary, especially with Xi Jinping’s negotiators set to sit down with Donald Trump’s later this week. Yet gold’s record-breaking rally looks less speculative by the moment as tensions flare up in every corner of the globe (chart).
Consider the following:
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