Spot Gold’s Rally to $1,800 Sees ETFs Topping Full-Year Record

Traditional haven in favor as pandemic spurs investment demand
Spot prices reached the highest level since September 2011

A worker handles ABC Bullion one kilogram gold bars at the ABC Refinery smelter in Sydney, New South Wales, Australia, on Thursday, July 2, 2020. Western investors piling into gold in the pandemic are more than making up for a collapse in demand for physical metal from traditional retail buyers in China and India, helping push prices to an eight-year high.Photographer: David Gray/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Ranjeetha Pakiam

July 8, 2020 at 2:21 AM UTC

Updated on

July 8, 2020 at 9:28 PM UTC

This article is for subscribers only.

Gold’s allure in 2020 continues to strengthen, with spot prices surpassing $1,800 an ounce and inflows into bullion-backed ETFs already topping the record full-year total set in 2009.

Investors have favored havens this year as the coronavirus pandemic rips through economies. That’s spurred sustained inflows into gold-backed exchange-traded funds as central banks and governments unleash vast stimulus programs.