To substantiate this claim, the market watcher compiled a table with the price of gold this year compared to the most important US stock market indices and the price of bitcoin. Thus, on January 2 of this year, the price of gold was $1,804 per ounce, and on August 29 - $1,723 - this led to a decrease in prices by 4.5%.
During the same period, the Dow Jones Industrial Average fell 11.8%, the S&P 500 fell 15.4%, the NASDAQ fell 23.3%, and Bitcoin fell 58.5%.
Williams wrote the following about this: “It is always a little inconvenient to choose a specific point in time for such comparisons. For example, silver has outperformed the Dow and S&P in percentage terms over the same period, while the price of oil has shown positive momentum, although it has fallen sharply in recent weeks. However, we chose these stocks because we believe that the stock markets remain on a downward path as the global economy and the US economy plunge deeper into recession, while we believe that there is an excellent chance that gold will enter positive territory at the end of the year, possibly taking silver with it, although the latter has yet to catch up.”