Why aren’t people selling gold when gold is near all time high in 2023

It’s currently the end of January 2023 and the market demand seems to be softening from a retail perspective. Which usually leads to customers taking profits and liquidating positions. Let’s go over a few reasons as to why the retail space is not seeing a rush to sell off their positions. Currently gold is between $1930/ozt and $1945/ozt.

There are a variety of reasons why individuals may choose not to sell their gold, even when the price is near an all-time high. One reason could be that they believe the price of gold will continue to rise, and they want to hold onto it in order to make a larger profit in the future. Additionally, gold is often seen as a “safe haven” asset that can provide protection against inflation and economic uncertainty, so some people may choose to hold onto it as a form of savings or as a hedge against other investments. Additionally, some people may have emotional or sentimental attachment to their gold and may not want to part with it regardless of the price.