Stimulus Check Up | Jul 6, 2021 | 0
Coronavirus, Hurting Jobs and Loans, Has Indians Selling the Family Gold
NEW DELHI—Investors across the globe are hoarding gold in the Covid-19 pandemic. In normally gold-obsessed India, there’s a glut, as struggling families stop buying and start hocking jewelry.
International investors have lifted the price of gold to all-time highs this year, trying to get their hands on more gold coins, bars and exchange-traded funds. Many are seeking shelter in the commodity from the storm of coronavirus and geopolitical concerns, such as the U.S.-China relationship to November’s U.S. presidential election.