Gold's safe-haven status tarnished by speculators
Its price has become more volatile as short-term investors and speculators dump the precious metal to raise cash
London
VOLATILITY has been so extensive amid the current global financial slump that analysts and investors are questioning claims that gold is a safe haven.
Even the World Gold Council (WGC), the research and marketing organisation of member mines, is concerned about the unpredictable price moves. ''Investors are still worried about the full impact of coronavirus on the global economy and gold has not been immune to this volatility,'' said Krishan Gopaul, an analyst of the council.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
China State Shipbuilding to build 18 LNG ships for QatarEnergy
Shell earns US$1 billion a year from US crude trading, court filing shows
Gold eases as steady US dollar dampens appeal
Oil prices fall 1% on Israel-Hamas ceasefire talks, US inflation concerns
Hot stock: Don Agro surges after plans to sell 92.3% group assets for 4.5 billion roubles
China could hinder BHP’s bid to become copper’s top producer