Gold has become the go-to commodity in the opening days of 2019 as investors contemplate a deteriorating worldwide outlook and factor in fewer, if any, US Federal Reserve interest rate hikes this year. On Thursday, a gauge of US manufacturing sank by the most since the 2008 recession a day after Apple cut its revenue outlook, fuelling concern the trade war with China is taking a bigger-than-expected toll on growth. Gold pierced the $1,300 level this week to extend a new-year rally. Investors flocked to the metal with global equities in retreat, signs of a slowdown stacking up, and the oldest of havens showing its mettle as exchange-traded funds draw in increased flows. Futures spiked to $1,300.40 an ounce on the Comex, the highest price since June, and were at $1,296.50 in London. Spot prices were not far behind, hitting as much as $1,298.60. Kevin Hassett, the chair of the White House Council of Economic Advisers, said in an interview with CNN: "It's not going to be just Apple. The...
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