Safe haven: An employee arranges one kilogramme gold bars for a photograph at the YLG Bullion International Co. headquarters in Bangkok, Thailand. Gold has immunity to the virus, according to Goldman Sachs Group Inc, which dubbed the metal as the currency of last resort and predicted that prices could top US$1,800 an ounce. — Bloomberg
SINGAPORE: Gold retreated in volatile trading after turmoil in the oil market, the spread of the coronavirus, sinking equities, and expectations of easier monetary policy pushed prices above US$1,700 an ounce.
The metal hit the highest since 2012, before paring gains, as Brent collapsed, futures on the S&P 500 Index sank, and the entire Treasury yield curve dipped below 1% for the first time.
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