Viewed as Safe Asset, Gold Reaches Its Highest Price in Four Years

The commodity reached a record US$1,700 a troy ounce when markets opened in Asia. It is currently stable.

RIO DE JANEIRO, BRAZIL - In search of protection amid the chaos that has set in with the coronavirus epidemic and the collapse of oil prices, investors are turning their attention to gold. Viewed as a safe asset, the commodity reached a high of US$1,700 per troy ounce when markets opened in Asia -- the highest figure in the last four years.

However, at 2:42 PM, the price rise had cooled down to 0.22 percent and gold was trading at US$1,675.

According to Yves Bonzon, chief strategist for the Julius Baer Group, gold is not as . . .

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