Global investors are stashing more and more assets into gold as the coronavirus outbreak spreads and appetite for risk takes a hit.
The global tally of bullion in exchange-traded funds swelled by the most in more than a month on Tuesday as equities sank. That was the twenty-fifth consecutive day of inflows, a record. At 2 624.7 t, the holdings are the largest ever.
After surging 18% last year, gold has extended its rally in 2020, with prices hitting the highest since 2013. The haven has been favoured as the virus outbreak has spread beyond China, threatening a pandemic and slower growth.