Gold is not a necessity like a grocery or hygiene items. Consumers realize that surviving COVID-19 lockdown needs only essentials. No one can satisfy a stomach with a gold bar. So, investors think the same when a priority for life eyes them. Since most of the stocks tend to fall as they can’t even satisfy the basic needs of the investors.
Precious metals lose fight against a rubber
Medics on the front treating patients with novel coronavirus are armed with tools mostly made of rubber. Rubber plantation businesses enjoy the situation when the healthcare industry demands made the price of the raw material soar thrice or even more. Especially, Malaysian rubber is praised for its high quality. Gloves, helmets, goggles, medical dress, and respirator masks mostly consist of rubber. Well, gold becomes a secondary tool in avoiding the danger of the health crisis.