黄金为何受到疯狂追捧(1)

Gold just hit a record high. Owning gold as part of your investment portfolio may still make sense -- if your goal is protect yourself against a volatile stock market, rather than chase profits.

The price of gold reached its highest-ever on Monday, with spot prices briefly touching nearly $1,944 per ounce, well above the previous record of roughly $1,921 that was set in September 2011.

Gold prices tend to rise when the value of the U. S. dollar or Treasury yields fall. Both have dropped recently as worries about everything from U. S. -China tensions

to how businesses will weather a resurgent COVID-19 weigh on investors' minds. Ryan Giannotto, director of research at GraniteShares,

says investors are using gold as a hedge against the prospect of the dollar becoming less valuable as investors react to the Federal Reserve's efforts to keep the economy moving.

"The Fed has gone into wildly uncharted territory. Effectively, they've injected trillions of dollars into the economy," he says. "Investors are realizing this is not the dollar they knew from 10 or 20 years ago."