FT'S LEX COLUMN
THE LEX COLUMN: Gold high on uncertainty
Global concern about coronavirus boosts precious metal as a safe haven
The Chinese love gold. The precious metal has historically traded at a premium to global prices close to the lunar new year, a peak season for retail demand in China. This year, the world’s biggest gold consumer has been too busy battling a deadly coronavirus outbreak to keep with tradition.
However, this is more than offset by increased demand from global investors spurred by fears of the same virus.