Marcus Ashworth: Gold becomes more useful as a piggy bank than a haven

By Marcus Ashworth Bloomberg News via NDTV, New Delhi Thursday, March 26, 2026 Gold's reputation as the ultimate store of value has been tarnished by its 15% decline since the Iran conflict began. It has failed to act as a haven or a geopolitical hedge.  However, that's not unusual -- the pattern seen this month mirrors similar price corrections during the 2008 global financial crisis and when Covid struck in March 2020. After all, gold is easy to sell and many holders will be able to reap large profits: Despite the recent drop, it's still up by more than 50% in the past year. ... Dispatch continues below ... ... ADVERTISEMENT ... Are you ready to safeguard your assets using precious metals? Hero Bullion is a precious metals dealer with an extensive inventory of competitively priced gold, silver, and platinum products. We didn't get into this business just to sell metals. Our goal is to educate investors to help them make sounder financial decisions. For four years we have focused on educational resources, competitive prices, and reliable, secure shipping. Check out our reviews. Hero Bullion is quickly becoming a favorite of customers all over the country. We're committed to helping you cut through the hype and build your portfolio with high-quality, affordable precious metals. Visit us here: www.herobullion.com Hero Bullion: Gold and silver simply delivered One new market dynamic, though, is that central banks, the biggest gold buyers over the past four years, are starting to contemplate using some of their holdings to pay for vastly increased energy and defense expenditure.  The sharp rise in energy prices has certainly hit some resource-poor countries hard and, with petrol rationing already becoming a feature in several countries, it must be tempting to raid the piggy bank. Central bankers are the custodians of national wealth, with reserves management one of their principal tasks; taking some of the profit from gold's better than 150% gain during the past five years to meet emergency needs makes sense. ... ... For the remainder of the commentary: https://www.ndtvprofit.com/world/gold-becomes-more-useful-as-a-piggy-bank-than-a-haven-marcus-ashworth-11269005 * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon: https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1 * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work: https://www.gata.org/sites/default/files/GATA-silver-round-front.png