Gold avoids much of recent commodity volatility due to safe-haven status

The longer-term trend in gold futures still appears to favor the bull camp, says optionsXpress.
Gold held up “reasonably well” during a recent commodity-wide sell-off, with some of the metal’s performance tied to gold's status as not only a commodity but also as a currency alternative.

“This safe-haven status that gold currently holds has muted some of the volatility seen in the precious-metals sector, especially in silver, which many traders see as more speculative in nature,” optionsXpress says.

Recent dollar strength was a catalyst for much of the commodity-wide sell-off. “However, the continued concerns over the state of the euro have kept a bid in place for gold from investors looking for a store of value outside of paper currencies,” optionsXpress says.

“Some analysts cite the continued tightening efforts by the Chinese government as a potential negative for gold as the world's most populous nation continues to try to control inflation.

However, the Chinese are also in the process of diversifying their huge foreign exchange reserves, and one of the major investments expected is the purchase of gold.”

By Allen Sykora of Kitco News; asykora@kitco.com

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