When commodity markets opened for the first time after the US and Israel attacked Iran over the weekend, the reaction in gold was typical.
The price of the yellow metal spiked as investors sought safety in bullion, pouring $10.3 million into local gold exchange-traded funds – a huge jump from the usual daily average inflow of $253,000, according to BetaShares. But the flight to the traditional safe-haven asset has proved surprisingly short-lived.
