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Slowing investor demand looms over gold prices
The rapid accumulation of gold by investors as the coronavirus crisis erupted earlier this year has slowed, threatening the record-breaking rally in prices of the precious metal. Investors seeking safety in gold, which typically holds its value during troubled economic and political times, have offset a collapse in jewellery demand and helped push prices above $2,000 an ounce for the first time. They have added about 959 tonnes of gold worth $60 billion at current prices to their holdings in physically-backed Exchange Traded Funds (ETFs) so far this year, according to data from the World Gold Council (WGC). But in ... (full story)