The roots of the new gold fever

Gold bullion

As sovereign bond yields have sharply declined in the wake of the financial crisis, and central banks have implemented unconventional policies to stimulate the world economy, gold has regained its lustre.

It is a universally-accepted asset, largely immune to the risk of negative returns, and offers higher liquidity due to financial innovations implemented over the last two decades. And in a context of growing international trade tensions, it offers a vehicle for countries such as Russia and

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