By Chris Dieterich
Few during a start of 2016 were presaging rallies in gold, U.S. Treasury holds and… bitcoin.
And yet, here we are. The SPDR Gold Shares exchange-traded fund (GLD) is adult 23% and has pulled in some-more than $10 billion in new resources this year. The iShares 20+ Year Treasury Bond ETF (TLT) is adult 14% in 2016, a top turn in a year. And, finally, a Bitcoin Investment Trust (GBTC) has nearly doubled over a past month. The former dual resources have been powered aloft by fear; fears that executive banks are apropos infirm to accelerate a economy, fears that a U.K.’s referendum will rip a European Union asunder. As for bitcoin, it would seem to be a array of constructional issues total with flourishing certainty that a underlying blockchain record is going to be big. Here’s Ed Yardeni, a boss and arch investment strategist during Yardeni Research, on Thursday:
“Recent developments in a financial markets have finished small to accelerate certainty in government-sponsored ‘fiat’ currencies. Meanwhile, bitcoin and gold,