News · Vietstock

Financial markets turbulent, safe-haven assets gain favor, except gold

Volatility from the AI rally has pushed investors toward US Treasuries, the dollar, the Swiss franc and the yen, but gold has not attracted inflows. Gold fell below 4,000 USD/ounce, its lowest level in a year, while central bank gold purchases rose 42% in the third quarter to 321 tonnes. Since the US and Israel first attacked Iran, gold has lost about a quarter of its value and is down 9% year to date in USD terms, the weakest of 14 major asset classes in Bank of America's ranking. Standard Chartered finds the correlation between gold and the S&P 500 has risen to 0.48 on a three-month rolling basis and 0.69 over one month. The bank's analysts say that in the short term, the need to raise cash could lead investors to sell gold rather than buy more.

Summary written by Upside AI from the original article. Read the source for full details.

Original headline: Thị trường tài chính chao đảo, các tài sản trú ẩn lên ngôi, ngoại trừ vàng

Read the original on Vietstock ↗

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goldbondsUS dollarsafe-haven assetsartificial intelligence

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