Gold price rises chased by virus fears

Gold bullion

According to the World Gold Council ETF holdings and assets in gold reached new all-time highs during February, adding USD4.9 billion in net inflows, with gold outperforming all major asset classes at the end of February, and being the only one in positive territory.

Gold global trading volumes averaged USD195 billion a day in February, an increase of 34 per cent y-o-y, while futures open interest increased 27 per cent to USD122 billion. COMEX net longs, via the COT report, hit all-time highs of USD63 billion, the World Gold Council says.

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Beverly Chandler
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