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Matt Badiali: A golden opportunity just appeared
By Matt Badiali
Daily Reckoning, Baltimore
Wednesday, June 24, 2026
The headlines are screaming that gold is falling.
And it's true. The price dipped below $4,000 per ounce for the first time since November 2025.
This seems backward. There are multiple wars going on in the world. Fuel prices are high. Gold is supposed to be the"“safe haven" asset. Why isn't it going up?
... Dispatch continues below ...
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Well, as analysts from LPL Financial, the largest broker-dealer in the U.S., said, gold is doing what it's supposed to do. It's acting as financial insurance.
Analysts at giant bank Goldman Sachs estimated that if the war lasted into April, it would cause economic contractions. ...
In addition, countries like Egypt, Tunisia, Iraq, and Turkey have fragile economies. They can't afford to have fuel costs spikes. Because oil is priced in dollars, something these countries don't have enough of, higher prices create severe economic disruptions.
Turkey faced soaring inflation due to high fuel costs. The country's central bank sold gold to offset the impact. Turkey sold $3 billion worth of gold in a single week in March.
This is gold as an insurance policy. When your economy runs on oil exports that don't get delivered or you can't afford the soaring fuel prices, you cash in your insurance policy -- gold. ...
... For the remainder of the commentary:
https://dailyreckoning.com/a-golden-opportunity-just-appeared/
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