Will gold be the next Tesla as millennials rush into the precious metal market?

category:Finance
 Will gold be the next Tesla as millennials rush into the precious metal market?


By midday on Thursday, more than 29000 users had bought GLD.

According to the review, Robin Hood users are attracted to buy every time asset prices fall. The recent trend of gold prices seems to confirm this performance.

On Thursday, spot silver, which hit a seven-year high on Wednesday, fell, but gold continued to rise. Spot gold once rose above 1890 US dollars / ounce, setting a new high in nearly nine years. Gold futures in October of Comex once rose above 1900 US dollars.

Tiggre believes that millennial investors are not as rich as older investors, but the trend of these investors entering the gold market is of great significance. They are the new generation. Although they dont have so much money, they are no longer children. They have brains and think that this opportunity is good, and they usually catch up with momentum. Some may think that the influx of millennials into the gold market is a reverse indicator, but tiggre expects gold prices not to peak yet.

There are also commentators that gold may be as popular as Tesla, so the gold price surge will not subside soon.

In one day last Monday, the number of Robinhood users investing in Tesla increased by 50000 to 458000, and the total number of investment users exceeded 520000 in the same day on Thursday. Teslas share price has not been much affected. It closed at an all-time high on Monday, fell more than 4% on Tuesday and rose 1.5% on Wednesday. It was up 6% at the beginning of Thursdays trading, and then fell.

It is worth mentioning that, in addition to millennial investors, there are also many factors driving the reallocation of the precious metal market, such as risk aversion, industrial demand, and the re expansion of the global negative yield bonds.

Source: Wall Street, editor in charge: Chen Hequn_ NB12679