“Gold has been in a precipitous decline for the last three years, falling more than 32 percent during that period,” according to CNBC.
“Interest in the precious metal is being driven by demand for a safe haven after losses spread across Chinese and U.S. equity markets and oil dipped below $30 a barrel. Also helping the case for gold: China boosted reserves for the sixth straight month in December amid price declines through the end of last year, according to the People’s Bank of China,” reports Bloomberg.
SPDR Gold Shares
Tom Lydon’s clients own shares of GLD.