Gold ETFs have started seeing inflows for the first time in months, as political turmoil in the Ukraine and weak Chinese data pushed investors into safe havens.
Russian shares dropped to a five-year low yesterday, weighing on global markets, while the gold price jumped as the Ukraine crisis intensified.
The gold price has rebounded off lows seen at the end of last year, having endured one of its worst ever years in performance terms, but is the rally about to run out of steam?
Weaker US data and ongoing expectations of tighter UK monetary policy have helped boost gold and sterling respectively as the dollar loses ground.
The Ruffer investment trust's protective assets have "earned their keep" so far this year, countering losses from its position in Japanese equities, the managers have said.
Asset under management in gold exchange-traded products (ETP) almost halved during 2013 as gold prices dived, driving investors out of the asset class.
Gold is on course to record its worst year for more than three decades following huge falls over 2013.
The gold price has suffered its largest fall in 30 years in 2013 as the US Federal Reserve begins withdrawing stimulus - but is that process now fully in the price?
The Financial Conduct Authority is reviewing gold benchmarks as part of a probe into how global rates are set, according to reports.