Gold's appeal rises as coronavirus hedge

Singapore

GOLD is expected to rise to US$2,000 per ounce in the next few months, with more bullish forecasts putting the figure at US$3,000/oz, as the appeal of the yellow metal increases as a coronavirus hedge amid more economic uncertainty.

Gold prices have seen a resurgence since an initial slide in mid-March, when investors - particularly large institutional ones such as hedge funds - started dumping liquid assets including gold to cover losses and margin calls during the stock market crash.