Safe Haven Inflows Keep Gold Supported

From orbex.com

The yellow metal rose once again this week having now recovered around 6% from its mid-August year-to-date lows. The driver behind the recovery in gold has been the considerable decline in global equity prices which has extended to a fourth week with the S&P 500 now back down to levels last seen in April. Indeed, the slump in US equities now not far off matching the magnitude of the losses seen over the final part of last year. The wave of risk aversion sweeping the market has favored gold, traditionally used by investors as a safe haven during times of economic uncertainty and financial markets volatility. ... (full story)