Trade in gold is widely authorised and regulated in many markets unlike cryptocurrencies such as Bitcoin.
SINGAPORE: Gold is set for a fifth straight monthly decline, the longest losing run in half a decade, as the dollar gets a twin boost from trade tensions and the Federal Reserve’s path for higher interest rates, while inflation remains stuck in hibernation and US equities notch record after record.
Bullion for immediate delivery, which was at US$1,204.55 an ounce last Friday, lost 1.6% in August, and the run of monthly declines is the longest since 2013. Prices hit a 19-month low on Aug 16 and are down 7.5% this year, while the Bloomberg Dollar Spot Index has risen 1.6%.
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