Investors turn to gold amid stockmarket volatility

Gold price hits six-month highs

Anna Fedorova
clock • 1 min read

Investors were attracted by gold in December as volatility in global stockmarkets drove bearish sentiment.

According to Scotiabank, holdings of gold-backed ETFs rose by 2.25m ounces in September, which helped to drive the price of the shiny metal to six-months highs above $1,290 per troy ounce. According to the FT, this in turn forced funds which had taken out shorts in the US futures market to bet against the rise of gold prices to reverse these positions, sending the market from a net short to a net long position in gold for the first time since last June. Meanwhile, analysts believe that on top of this short covering there has been a further increase in bullish bets, although this is ye...

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



Already a Professional Adviser member?


More on Commodities

Partner Content: Commodities - An effective hedge against inflation

Partner Content: Commodities - An effective hedge against inflation

Commodity prices are set to remain elevated yet the mining sector continues to be undervalued, says Capital Group’s Lisa Thompson

Capital Group
clock 07 June 2022 • 1 min read

Oil price jumps to 2014 highs as Trump abandons Iran nuclear deal

Up 2.8% to $77 a barrel

Tom Eckett
clock 09 May 2018 • 2 min read

Gold trading sinks as Bitcoin interest surges

Bitcoin searches in Google overtake gold

Mike Sheen
clock 07 November 2017 • 2 min read