Gold Stages a Comeback After Slump Leaves Haven With Black Eye
- Price gains on outlook for rate cuts as virus concerns climb
- RBC says that there’s been no loss of faith in gold’s role
This article is for subscribers only.
After getting caught up in last week’s punishing virus-driven sell-off, gold is seeking to refresh its haven credentials.
The metal advanced after a weekend of negative developments, including a surge in virus cases around the world. With rising expectations that central banks will now act, assets including copper and oil also gained. Friday’s big slump in gold was put down to investors’ forced selling to cover losses elsewhere.