“Gold’s fundamentals remain overwhelmingly strong and any near-term price corrections aren’t significant in terms of the bigger picture, ” said Gavin Wendt, senior resource analyst at MineLife Pty.
SINGAPORE: After getting caught up in last week’s punishing virus-driven sell-off, gold is seeking to refresh its haven credentials.
The metal advanced after a weekend of negative developments, including a surge in virus cases around the world. With rising expectations that central banks will now act, assets including copper and oil also gained. Friday’s big slump in gold was put down to investors’ forced selling to cover losses elsewhere.
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