Nervous investors have bought more than 1,000 tonnes of gold this year, a record figure equivalent to the entire hoard the Swiss National Bank has stashed away in its vaults.
For centuries people have considered gold a store of value in turbulent times. In 2020 they have been buying it in droves.
Gold exchange traded funds (ETFs) recorded their tenth consecutive month of positive inflows in September for only the third time since the financial crisis. This was despite gold experiencing its biggest monthly price drop since November 2016, falling 3.6%, after reaching a new all-time high in August.
With concerns mounting about the outcome of the upcoming U.S. election and a second wave of coronavirus infections, will the precious metal retain its lustre in the fourth quarter?
Investors certainly believe so. Figures this week from