News From Press Gold gets support as ETFs pile up the yellow metal on mounting virus fears

Gold gets support as ETFs pile up the yellow metal on mounting virus fears

Currently, gold holdings with ETFs are at their highest level ever, while its price is much lower than its previous peak

Mint Feb 26, 2020

Gold’s status as the go-to asset class in times of financial distress has never been in doubt. The rise in coronavirus cases across the globe has led to the international price of gold ballooning to $1,660.7 an ounce in the past few days. In fact, year-to-date the yellow metal has shot up 9%—and about 25% in 2019 as financial markets reprice gold since the clouds of a slowdown have begun to loom across the globe.

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