Gold Is Back in Favor Thanks to Fed’s Emergency Cut
- Spot prices have extended gains after Tuesday’s 3.2% jump
- Gold rekindled its haven credentials, Saxo’s Hansen says
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Investors are returning to gold as a store of value after the Federal Reserve’s emergency rate cut sparked a collapse in 10-year Treasury yields.
Spot gold extended gains Wednesday after jumping by the most since 2016. The metal is rebounding from a dramatic plunge on Friday, when investors sold bullion to cover losses in other asset classes.