Welcome to the FIA News & Insights, a one-stop resource that includes insights from senior investment professionals on timely market events, their views on the economy and their respective markets. Find updates on the latest media information on Frost Investment Advisors, LLC and the most recent reprints, as well as, archival information for your reference.
Bitcoin prices are down more than 15% so far in 2022. Other top cryptos, such as ethereum, solana and Elon Musk’s beloved dogecoin, also have fallen sharply this year. Meanwhile, tactual gold is up more than 4% and back around $1,900 an ounce, once again flirting with record highs of above $2,000.
It's not just rate hikes and inflation worries that are lifting gold. Mace McCain, chief investment officer at Frost Investment Advisors, said in a report late last month that gold has also emerged as a safe haven in part due to concerns about Russia's invasion of Ukraine.
"As events in Ukraine escalated, we saw investors turn to gold," he wrote, adding that bitcoin is still "finding its niche somewhere between a speculative tech asset and a digitized hard currency."
Excerpted from CNN Business on April 27, 2022. To read full article click here.
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