Bank of America: Gold is the overwhelming favorite to be a safe haven during the trade war

Bank of America, a US megabank, has released the results of a recent survey of global fund managers.

Gold is the overwhelming favorite asset in the trade war surrounding the Trump administration, accounting for 58% of respondents.

In the survey conducted at the end of February, 58% of respondents chose gold as a safe haven in the event of a full-scale trade war, far ahead of the others.

The US dollar was chosen at 15%, followed by 30-year US Treasury bonds at 9%, commodities at 7%, 3-month US Treasury bills at 4%, and bitcoins that tend to move in tandem with risk assets such as the US stock market...