Economics
Gold Heads for the Best Week Since 2011 as `Fear Is in Control'
- Bullion advances in 2016 on global stock rout, negative rates
- Miners head for highest close since July on gold price
Molten gold pours from a crucible into a heated mould after refining.
Photographer: Duncan Chard/BloombergThis article is for subscribers only.
Gold’s explosive start to 2016 has lifted prices to the highest level in a year as investors flee a bear market in global stocks, a weakening dollar and the fallout from the spread of negative interest rates.
Futures in the metal posted the biggest weekly jump in seven years even as prices fell on Friday, while a measure of gold mining shares was poised for the highest close since July. Producer Barrick Gold Corp. has surged 65 percent this year, after five straight annual losses, while Newmont Mining Corp. is up 44 percent and is the top performer on the Standard & Poor’s 500 Index of equities.