Gold

Notable

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<p class="has-drop-cap">The CBOE Volatility Index (VIX), commonly known as the “fear gauge,” skyrocketed on Wednesday, hitting a high of 18.69, a significant increase from the previous close of 14.91.</p>
<p>The VIX measures the stock market’s expectation of <a href="https://tokenist.com/investing/implied-volatility/" rel="noopener noreferrer nofollow" class="deco-link">volatility</a> based on S&amp;P 500 <a href="https://tokenist.com/investing/what-is-options-trading/" class="deco-link" rel="noopener noreferrer nofollow">index options</a>, using the implied volatilities of these options. A high VIX value indicates more market uncertainty and fear, suggesting that investors anticipate significant changes in market conditions soon. Conversely, a low VIX value points to stability.</p>
<h3 id="us-stock-market-selloff">US Stock Market Selloff</h3>
<p>The U.S. stock market experienced a broad selloff on Wednesday, with the Dow Jones Industrial Average dropping 332.79 points, or 0.87%, trading at 38,126.29 at the time of writing. <br><br>The NASDAQ Composite also felt the impact of ongoing market corrections, dropping over 1% and trading at 16,250.69, while the S&amp;P 500 decreased to 5,151.43, dropping 0.92% and aligning with broader market trends. <br><br>Notable declines were seen in major companies such as JPMorgan Chase (NYSE: JPM) (<a href="https://tokenist.com/jpm-wfc-q1-earnings-beat-overshadowed-by-net-interest-income-concerns/" rel="noopener noreferrer nofollow" class="deco-link">down 5.35%</a>), Intel (NASDAQ: INTC) (down 3.41%), <a href="https://tokenist.com/new-google-and-intel-chips-spark-investor-interest-nvidia-shares-tumble/" class="deco-link" rel="noopener noreferrer nofollow">Nvidia</a> (NASDAQ: NVDA) (down 1.45%) and Goldman Sachs (NYSE: GS) (down 2.16%).</p>
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<h3 id="gold-prices-continue-to-surge">Gold Prices Continue to Surge</h3>
<p>Amid the market turmoil, gold prices reached new record highs, trading around $2,392.75 per ounce. A combination of geopolitical tensions, economic uncertainties, and substantial buying by central banks drives this <a href="https://tokenist.com/three-reasons-why-gold-prices-are-surging-to-record-highs/" rel="noopener noreferrer nofollow" class="deco-link">surge in gold prices</a>. <br><br>Escalating conflicts in the Middle East, particularly involving Iran, and concerns about an economic slowdown in China have contributed to the rise in gold prices.</p>
<p>Central banks, such as the People’s Bank of China and Vietnam’s central bank, have been increasing their gold reserves, signaling a strategic shift away from dollar assets amidst global financial instability. The retail impact of the gold rush is also notable, with significant sales of gold bars and silver coins at major outlets like Costco, which reported monthly sales of up to <a href="https://www.mining.com/costco-is-selling-up-to-200-million-of-gold-bars-and-silver-coins-every-month/" target="_blank" aria-label="$200 million (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">$200 million</a>.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/vix-skyrockets-as-us-markets-tumble-amid-inflation-fears/">VIX Skyrockets as US Markets Tumble Amid Inflation Fears</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

VIX Skyrockets as US Markets Tumble Amid Inflation Fears

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