Gold ‘appears to hit temporary ceiling’ as bruised investors book gains

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Gold ‘appears to hit temporary ceiling’ as bruised investors book gains

Mining Capital’s Alastair Ford says it’s been interesting to watch the gold price over the last week or so as the coronavirus crisis has expanded.

”We’ve seen a lot of the traditional type of action that we would expect in terms of investors buying into gold as a safe haven but every time it’s tested the $1700 mark, the gold price has fallen back”.

”What’s really happening is investors across the board are booking huge losses in markets around the world and every time gold rises to $1700 they’re booking gains on that to offset their losses elsewhere”.

Proactiveinvestors.co.uk

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