Gold, gold stocks surge as safe-haven trade returns
Feb 11 2016, 15:27 ET | By: Carl Surran, SA News Editor
Gold stocks (GDX +7.8%) power higher as April gold futures jumped by $53.20/oz., or +4.5%, to settle at $1,247.80, the highest level since February 2015 and the biggest one-day dollar and percentage gain since September 2013, as investors sought safe-haven assets amid the global equity market rout.
A growing universe of government bonds with negative yields has helped gold, while a lower U.S. dollar has made it cheaper for buyers in other currencies to purchase gold.
Investor sentiment “seems to be thawing at the start of 2016, with a focus on gold’s wealth preservation and risk diversification properties,” the World Gold Council says.
Keine Kommentare:
Kommentar veröffentlichen