It is important to note how the Lehman bankruptcy and subsequent systemic, financial and economic crises showed gold’s importance as a safe haven asset and as financial insurance in a portfolio.
Gold in dollar terms has risen 73% and silver by exactly 100% since the Lehman bankruptcy and collapse. Both have risen by similar amounts in other major currencies.
Gold rose in the years preceding the crisis when more prudent observers were warning about risks emanating from cheap money policies, overheating stock and property markets, an out of control derivatives market and the shadow banking system. A Lehman Brothers style crisis was obvious to many analysts who warned of systemic risk.
- Source, Goldcore: