As global equity markets tumble, analysts say it could be time for gold to shine once more as a safe buy in times of market turmoil.
With equity markets tumbling, escalating tensions between a Saudi-led Sunni bloc against Iran, ongoing hostilities in Syria, North Korea testing what it claims to be a hydrogen bomb, the once precious yellow metal is looking perky.
Gold's strong performance amid broad risk-off sentiment could pique renewed investor interest.
Gold's gains on Thursday came after Chinese stock indexes fell by around 7 percent on the day, triggering a circuit breaker for the second time this week that shut Shanghai and Shenzhen markets for the rest of the session. Asian and European stocks slumped on the news and Wall Street stocks are seen opening sharply lower.
During times of financial uncertainty and geopolitical turmoil, investors channel money into assets that benefit from risk-averse sentiment or act as a store of value.
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