Gold grows as safety option on flood of money in the US

A general view of deserted Al Ras district, famous for its gold and spice markets, after a full lockdown, in Dubai, United Arab Emirates on Wednesday. Pictue: REUTERS/CHRISTOPHER PIKE

“Investors may be shifting to gold for safety,” said CMC Markets analyst Margaret Yang Yan, who saw the rebound spurred by US President Donald Trump’s remarks that the next two weeks of the pandemic could be painful for the US.

Limiting physical gold’s supply, three of the world’s largest gold refineries said they had suspended production in Switzerland for at least a week after local authorities ordered the closure of non-essential industry.

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