gold price

The US dollar struggled to stem its broad decline as investors worried the US economic recovery may lag other countries due to a high level of coronavirus infections.

Global gold ETF holdings eclipsed German gold reserves on Monday as investors seek safety from Covid-19.

With the world facing an extended period of unprecedented economic and political turmoil, gold’s now got US$2,000 ($2,758.72) in its sights. Some in the market suggest the haven could rise even beyond that.

This year, the Covid-19 pandemic has driven gold prices up 19%, outperforming silver by 10%. The Gold Silver Ratio (GSR) is at 95 times, which is way above its 1980–2020 average of 65 times.

Gold futures rose above US$1,800 ($2510.28) an ounce for the first time in eight years as low interest rates and a resurgence in coronavirus cases drive demand for the metal as a haven.

Gold pushed toward the highest level since 2012, lifted by concerns over a second wave of coronavirus infections and growing uncertainty in Hong Kong after China released details of a proposed national security law.

Despite the move towards liquidity, an uncertain economy, unprecedented economic stimulus and a gradual recovery make it a good time to buy gold relatively cheaply.

The global tally of bullion in exchange-traded funds swelled by the most in more than a month on Tuesday as equities sank.

SINGAPORE (Jan 23): The Tantallon India Fund closed up +1.82% in December with markets remaining volatile into the year-end with civil protests against the introduction of the new Citizenship Law, and muted consumption and manufacturing data raising quest

Gold futures rose rose for a third straight week on Friday after the sanctions strengthened the case for owning gold as a hedge.