Gold plunges amid equity rally

clock •

The price of gold has plummeted to a six-month low as the global rally in equities triggered by upbeat economic data threatens the precious metal's safe-haven appeal.

Gold futures for February delivery fell $40.10, or 2.8%, to $1,382.80 on the Comex in New York yesterday as investors flocked to equities on the back of improving economic credentials, reports Bloomberg. Strong manufacturing data from the US and Europe has led to a rally in global stock markets in the early part of the year. The upbeat economic data also led to the dollar rising against the yen. Gold, traditionally seen as a safe-haven, reached a record $1,432.50 an ounce on December 7 2010 - a year which saw the precious metal surge amid volatile economic conditions. But gold coul...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Fahad Hassan: When good news becomes an inflation problem

Fahad Hassan: When good news becomes an inflation problem

'Markets have been adjusting to the risks through valuations all year'

Fahad Hassan
clock 29 September 2026 • 6 min read
Healey promises 'new age of industrialisation' ahead of Budget

Healey promises 'new age of industrialisation' ahead of Budget

Keeps quiet on personal taxation, pensions or savings at Labour’s conference

Isabel Baxter
clock 28 September 2026 • 2 min read
MPs warn policymakers to stop using OBR as scapegoat for tough fiscal decisions

MPs warn policymakers to stop using OBR as scapegoat for tough fiscal decisions

Treasury Committee report

clock 23 September 2026 • 2 min read