(Kitco News) – Blue-chip U.S. tech stocks are not only outperforming most of the market, they’re also encroaching on gold’s traditional role as a hedge against inflation and currency depreciation, according to the results of the latest Bloomberg Markets Live Pulse survey.
While 46% of survey participants chose gold as their number-one safeguard against rising prices, 30% said they would bet on American tech giants like Apple, Nvidia, Amazon, and Meta to outperform the precious metal against inflation.
Another surprising result was that even after Bitcoin’s phenomenal six-month run-up in price, only 5% of respondents chose it as their first choice to protect against inflationary pressures.
The significance of the results is even greater considering that price increases were also the number-one concern among respondents: 59% said rising inflation was the biggest risk facing financial markets for the balance of 2024. While…
