When gold and the Nasdaq "rise and fall together," is everything just "FOMO"?
In the past few weeks, since the last short squeeze began, the stock market and gold have shown a close correlation, as illustrated by the 30-minute chart of the S&P 500 index and gold since September. Considering that gold is at least to some extent a tool for hedging against panic, this seems somewhat illogical. Are these short-term funds merely chasing momentum, unrelated to "logic"?
In the past few weeks, since the last short squeeze began, the stock market and gold have shown a close correlation, as illustrated by the 30-minute chart of the S&P 500 index and gold since September.
Considering that gold is at least to some extent a tool for hedging panic, this seems somewhat illogical. Are these short-term funds merely chasing momentum, unrelated to "logic"?
