Why gold is losing its lustre as a safe haven despite inflation fears – The National

Why gold is losing its lustre as a safe haven despite inflation fears – The National

Gold is seen as a key hedge against inflation and with prices accelerating, the precious metal should be shining right now. But it isn’t.

Instead, the gold price has been stuck in what Matt Weller, global head of research at StoneX Financial, calls “its well-trodden four-month range between $1,725 and $1,830”.

At the time of writing, it is trading at around $1,800, more than 15 per cent below its all-time high of $2,084, which it hit in August 2020 at the height of Covid-19 uncertainty.