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Virus Resurgence May Move Gold Towards Highest Since 2012

Gold Highest

EDITOR NOTE: If you were to look at a chart of current gold prices, you’d see price pushing up against its upper boundaries, challenging its 2012 highs. The reason for this, as always in the case of gold, is a surge in safe haven demand. Traditionally, the stock market has been a leading indicator of the economy. But right now, the economy is a reflection of the public health crisis that’s shed darkness over all things that may have once been considered “certain.” And where uncertainty reigns, so does the demand for gold.

Gold edged toward the highest since 2012, supported by concerns over a second wave of coronavirus infections and China’s move to tighten oversight of Hong Kong.

Virus cases in some regions including Germany, Florida, California and Texas are rising and the World Health Organization is warning of “a new and dangerous phase,” though there are signs that a recent outbreak in Beijing is coming under control. China confirmed the proposed national security la ..

Read more at Economic Times

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