The cumulative effect of the pressures on global companies, stock markets and economies has mean that gold has come into its own as the number one safe haven asset – and with no end of the outbreak in site, now is a great time to buy.
As California declared a state of emergency this week in response to Coronavirus, many Central Banks have also started to take measures to try and combat the financial fallout. In this environment, the research firm CRU said this week that gold is an important safe haven asset and should be at the top of every investors list.
CRU managing director, Paul Robinson said, “It’s about capital preservation and that is what gold has going for it. Gold will continue to rally with all this uncertainty in the marketplace.” Robinson expects gold prices to continue to climb with coronavirus looking to be a longer term problem. Buy now to capitalise.