Gold to rally towards $1,800 as coronavirus pushes demand for safe haven

Pedro Gonçalves
clock
Gold to rally towards $1,800 as coronavirus pushes demand for safe haven

Gold's safe-haven demand could see it hit $1,800 an ounce, as investors rush towards precious metals on rising fears of a coronavirus pandemic. The metal has outperformed traditional haven currencies including the Japanese yen and Swiss franc as "the haven of last resort," Goldman analyst Mikhail Sprogis said in a note. The bullion is trading near a seven-year high, supported by an increasing number of coronavirus cases worldwide that threaten to curtail global economic activity.  Goldm...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login