GOLD REPORT

Gold hurt by other falling markets

GOLD this week has been trading lower and closing lower for the last three days. It saw a large decline of more than US$60 an ounce yesterday. The global equity meltdown and treasury yields hitting all-time lows had resulted in concerns that large hedge funds and tactical players would need cash...

GOLD REPORT

Gold regains status as safe haven

GOLD ended last week with the largest intra-day fall in price since 2013 - a drop of 4.6 per cent. This was despite a global equity meltdown and Treasury yields hitting all-time lows. The spread of the novel coronavirus heightened concern that global economic growth would be hit and demand for...

GOLD REPORT

Gold consolidates after a blistering rally

GOLD extended its climb to new highs this week but stopped short of the US$1,700 an ounce psychological level. Spot gold touched a high of US$1,689.56 before retracing. Gold had been in consolidation and moving in a sideways pattern since.

GOLD REPORT

Gold hits new highs as virus outbreak spreads

GOLD hit a seven-year high last night, extending the rally to six days as concerns over the coronavirus re-emerged that the pandemic was spreading further afield from Asia. Japan and Korea reported their first fatality from the virus. China also announced that factories and firms in Hubei...

GOLD REPORT

Covid-19 continues to drive investors to safe-haven assets

AFTER a new reclassification system of Covid-19 that broadens the scope of diagnoses in China, safe-haven investors flocked back to the market as the number of coronavirus cases jumped. This is despite the dollar index being stronger during the weak. Gold is inversely correlated to the dollar...

GOLD REPORT

Coronavirus concerns buoy Gold's safe haven demand

AS the coronavirus spreads to many countries worldwide, and as the number of reported cases continues to rise along with the increasing number of deaths, concerns that the virus would get worse before it gets better have underpinned support for the precious metal as a safe haven asset.