Throughout history, gold has played an important role in both its actual and symbolic value. For many ancient civilisations, such as the Incas and Egyptians, gold ownership was limited to members of the royal families, as only they had access to the gods.
This year, the Covid-19 pandemic and the reaction from central banks had a significant impact on the price of gold. Over the past few decades, central banks have viewed gold as a ‘safe-haven asset’ – an investment that can be used to dodge the impact of negative sovereign bond yields and act as a safeguard against inflation.
As this report affirms, 2020 has been a challenging year for gold investors – only time will tell what role it will take as we recover from the pandemic.
View: More news