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Precious little demand

Gold's prospects are dull

Swaha Pattanaik 

Swaha Pattanaik Gold isn't behaving like a safe haven should. While investors have endured torrid times as global equity markets have slumped, even worse tribulations may be required for the precious metal to regain its past lustre as a safe haven. Its price is down more than three per cent since November 2015, even as the S&P 500 Index has declined eight per cent. And on January 20, when a global equity rout pushed the MSCI World equity index down more than three per cent, gold's rebound fell almost $3 short of highs set earlier in the month. There are good reasons why investor panic is not ...

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First Published: Mon, January 25 2016. 21:32 IST