Gold has had to give up a bit in the past few weeks as equity markets have recovered more and more from the corona crash. The precious metal is down 1.6 percent on a weekly basis, but on Monday gold regained $ 1,700 a troy ounce while the stock markets rocketed again due to a combination of further corona concerns and the flaring trade conflict between the U.S. and China Have taken cover.
Trade conflict and Corona make gold attractive
In addition, in contrast to the stock markets, the precious metal was able to completely tackle the sharp price slump caused by the corona virus. Looking at 3 months, the gold price is 6.6 percent higher than before the Corona crash. On an annual basis, there is even an increase of 33 percent. The past year has already given the asset, which is considered a safe haven, a boost from the considerable disruptions in the trade dispute between the two major powers, China and the United States.