When the inventory market goes haywire, gold usually turns into the "gold" commonplace within the eyes of on a regular basis traders.

True to type, gold is coming off its greatest week since 2016, as fears across the world unfold of the coronavirus led to a sharp selloff within the inventory market and nudged traders to retreat to what they perceived as a protected haven.

Gold costs are buying and selling at their highest ranges since 2013.

Nonetheless, traders ought to resist the urge to park cash in gold, monetary advisors say.

Whereas some advisors advocate allocating a sliver of an funding portfolio to gold, traders ought to wait till the mud settles from the current market rout to purchase, they stated.

"The time to do it, on the very newest, was in all probability two weeks in the past," stated licensed monetary planner Dennis Nolte, a monetary advisor at Seacoast Financial institution in Winter Park, Florida. "Now shouldn't be the time to provoke any new positions in something that is gone up so quick."

The S&P 500, Dow Jones and Nasdaq market indexes have every shed extra...