Gold Rises As Coronavirus Spreads, But Don’t Forget Other Metals
Forbes - Gold has been rising amid continuing worries over the Wuhan coronavirus. But, at the risk of sounding heartless, there could be better investment returns on offer from a sector of the commodity market which has been taking a battering: industrial metals.
Copper, for example, suffered an 8.5% fall over the past three trading sessions, dropping from $2.83 a pound to $2.59. Nickel was hit harder, down 9.9% from $6.33 per pound to $5.70.
Gold, on the other hand, has added $20 an ounce to reach a 7-year high of $1,585 yesterday, before easing to around $1,578 per ounce.
Copper, nickel and other industrial metals, such as zinc and aluminum could continue to fall depending on news from virus-infected regions, especially if the death count mounts and the infection rate accelerates.