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

Published Sun, Mar 29, 2020 · 09:50 PM

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.

Gold has been recent…