Gold – silver: The Straits of Hormuz and the Role of Central Banks
Gold and silver prices show strange behavior, excluding from their traditional role of safe refuge. The opening of the Straits of Hormuz caused an increase instead of a fall, as concerns about inflation and recession decreased. Morgan Stanley now questions the status of gold as a safe haven. Central banks of emerging economies, such as Turkey that sold 52 tons of gold between 27 February-27 March, liquidate reserves to cover energy costs and support their coins. On the contrary, China continues to buy, with stocks reaching 2,308 tonnes in late March.





