Investors are dumping gold

Investors are dumping gold

World August 17, 2018 08:16

- Investors looking at gold to gauge the crisis look wrong. The large investment funds use to avoid uncertainty use US government bonds.

This is what Sprott observes, a large party in the gold market. Gold has lost its reputation as a safe haven, State Street concludes.

Bloomberg notices that investors have moved away not only from gold, but also from emerging markets investments and from currencies, especially in response to Turkey's concerns.

The gold price has dropped to the lowest point in nineteen months. This is mainly due to the strong dollar, traditionally the enemy of gold.

Investment funds have withdrawn millions from gold trackers, the ETFs, in recent days. Some 200 tons of gold turned around with losses, which will push the price of gold even further, according to Standard Chartered.

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