Gold surges to seven-month high; Japanese 10-year gov bond yields hit zero

Falling shares around the world

The gold price reached a seven-month high of $1,200 an ounce yesterday, as investors flocked to the safe haven amid falling stockmarkets around the world.

The price of gold bullion exchange-traded products climbed for the 15th consecutive day on concerns over the strength of China's economy, tumbling oil prices, and uncertainties surrounding US interest rates. According to Bloomberg, the precious metal has risen 13% so far this year, making it the best asset in the Bloomberg Commodity Index, after the global stockmarket volatility seen throughout last month lifted demand for safe haven assets. Kennox: Why we are backing gold and oil in 2016 In recent years, analysts have claimed gold's popularity as an asset class has waned due to t...