London — Gold prices edged higher on Tuesday but did not see a larger safe-haven boost from tumbling equity markets because the global economy is largely robust and shares were thought likely to rebound. World stock markets nose-dived for a fourth consecutive day on Tuesday, with $4-trillion wiped off since indices hit record highs eight days ago. Gold is seen as a safe-haven investment due to its ability to retain value even at times of financial or political uncertainty. It is also used as a hedge against inflation. But spot gold was up only 0.3% at $1,343 an ounce at 10.45am GMT, barely extending Monday’s 0.5% gain. US gold futures for April delivery rose 0.7% to $1,345.90 an ounce on Tuesday. "Given the overall positive economic environment, we don’t think this will be the end of this bull market in equities and that is why we are not too positive on gold right now," said Carsten Menke, commodities analyst at Julius Baer in Zurich. The selling in equities largely stemmed from te...
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