Gold has once again shown it is a steady, safe haven this week with gains even as global stock markets faltered. Wall Street has indicated that it has come back from the long Labor Day weekend in a more pensive mood with signs suggesting markets are risk averse as US President Donald Trump suggested he would ‘decouple’ the US from China in the latest in the lengthy trade war between the two nations.
Across the Atlantic, the Pound and UK markets were also feeling the pinch as investors mulled over headlines declaring Prime Minister Boris Johnson’s cabinet is forging ahead with preparations for a no-deal Brexit and potentially changing the law around the Northern Ireland Protocol.
The uncertainty saw gold rising again yesterday (Tuesday) up to £1,472.24 ($1,929.90). Investment strategist Lyn Alden said Tuesday that she believes the stock markets are gearing up for a correction – with the S&P already down 1.5% and the Nasdaq down 2% on the first day of trading after the holiday weekend, gold is certainly in line for an even bigger boost.