The doldrums are followed by recovery: after the brief slump in March 2021, the gold price is again at a high level that it had never reached in the previous ten years. We are not talking about raw materials here, however. Even in the Basel III framework of the Basel Committee for Banking supervision at the Bank for International Settlements (BIS) it is said that it is much more like a stranger treat currency. The volatility of gold is more like that of a foreign currency. That’s why they should treat the raw material like one. XAUEUR Chart von TradingView