How the coronavirus has knocked gold off its safe-haven pedestal
Bullion on the back foot as demand from China and India wanes and investors dash to cash
23 March 2020 - 16:26
Launceston — Is gold’s pullback just a blip on the way to higher prices as fears over the economic effect of the coronavirus will drive renewed buying, or is it a sign the precious metal is not quite the safe haven it used to be?
Until two weeks ago gold was behaving pretty much as expected during times of global economic uncertainty, with spot prices reaching as high as $1,702.56/oz on March 9, a jump of 13% from the end of 2019...
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