Gold surges as markets fall again

ANOTHER big fall for US equities has reinstated gold’s status as a safe haven commodity.

Gold surges as markets fall again Gold surges as markets fall again Gold surges as markets fall again Gold surges as markets fall again Gold surges as markets fall again

Image: iStock/AlexLMX

The Dow Jones Industrial Average lost another 2.1% or 545.9 points to 25,052.8 points and is around 1800 points off its high.

The S&P 500 dropped by the same amount, while UK and European equities lost an average of 1.9%.

"Sell-offs happen, the third quarter of 2018 was a quiet three months," IG market analyst Chris Beauchamp said.

"But until proved otherwise, this is still a dip, not the next 2008. Risk management remains key, but the bull market is intact."

ASX futures were down 47 points after yesterday's 2.7% loss.

While equities suffered, the big winner was gold, which surged by as much as 3% to a high of US$1230 an ounce.

Gold was helped along by weaker-than-expected US inflation data which could impact further interest rate h...

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