Donald Trump's trade war with China. The brink of all-out military war with Iran. Now, the deadly coronavirus outbreak. Everywhere, it seems, the world has been engulfed in a prolonged stretch of uncertainty, rattling markets and battering stock prices. Not so for the producers of one metal: gold.
"One of the few sectors where the outlook is good," says Jake Klein, the executive chairman of $6 billion gold miner Evolution Mining. "Whilst the level of geopolitical uncertainty and risk is somewhat unfortunate ... a lot of fund managers are starting to look at gold as a hedge in their portfolios."
Long considered a safe haven for value, gold tends to fare particularly well whenever investors are nervous and seek to pull back from risk. The price of the precious metal has lately been hovering around multi-year highs, gaining 20 per cent in 2019 to surpass $US1500 ($2240.94) an ounce.
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