Capital Economics: Gold Still Holds Value as a Hedge Against Stock Market Declines

Capital Economics strategist Thomas Mathews pointed out in a report that gold still holds value as a tool to hedge against stock market declines. Recently, gold has performed similarly to "risk" assets, with its price volatility comparable to that of the S&P 500 Index. Although gold's performance has been lackluster during the Middle East conflict, its connection with real bond yields remains strong, and a decline in real yields is expected to boost gold.

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