Lost shine

Despite gold's long-standing status as a safe haven in periods of turmoil, gold prices have trailed off considerably since they reached all-time highs in March. How have gold exchange-traded funds fared amid the turbulence? Donna Haws reports


In times of uncertainty, investors traditionally turn to gold. Yet, despite an unprecedented few months - the collapse of Lehman Brothers, the strangling of liquidity in the credit market and emergency bail-outs of banks by governments across the globe - the price of gold has weakened sharply since March.

The active-month gold futures contract trading on Comex closed at a record high of $1,018.50 an ounce on March 18, widely attributed to a weakening dollar, rising oil prices, inflation concerns

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