Despite its dwindled significance in South Africa’s economy, gold has remained a useful investment alternative with significant returns recorded in periods, especially in times of increased uncertainty, notes Old Mutual in a report.
In 1980, the metal accounted for 16% the country’s GDP, but by 2017, that number had declined to 2%.
Gold has been part of ...
After four weeks of selling, hedge funds jumped back into the gold market and pushed prices to a 5.5-week high, according to the latest trade data from the Commodity Futures Trading Commission.
Gold prices rose on Monday as the dollar remained subdued on fear of a global trade war.
Uncertainty over the outcome of elections in Italy, which could spell new concerns for the eurozone, gave further support to the metal.
Spot gold was up 0.3% at $1,326.41 an ounce at 4.14am GMT. Earlier in the session, it hit ...
As “fear trade” is dwindling down and the old-guard investors are stepping back, the new generation is buying gold to “make money” rather than to hedge against risk, said one precious metals expert.