In addition, gold has tended to have an inverse…
In addition, gold has tended to have an inverse relationship with GDP in recessionary times, when GDP falls and high-yield spreads rise, gold prices soar. In an average recession, gold appreciates 1.3x relative to the 60/40 portfolio.
— from Takeoff Into Chaos · Humble Investor: How to Find a Winning Edge in a Surprising World by Daniel Rasmussen
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