Gold, the ultimate safe haven asset when financial markets are volatile, has been on an upwards trajectory for the last five years and is now worth $1,801 USD an ounce.
Peter O’Connor from Shaw and Partners believes it’s about to burst through its previous high set in 2011, and said since March a range of ASX-listed gold equities have outperformed the market thanks to the 20 per cent lift in the gold price.
“There’s a direct link between the share price and the gold price,” he said.
Its price is being driven higher by the low interest rate environment and the global coronavirus pandemic.
