Gold prices rose on Thursday towards a more than three-month high hit earlier this week, as a selloff in global equities triggered safe-haven bids for the metal amid rising political and economic uncertainties.

LG Electronics’ annual operating profit in 2018 will hike 28 percent from last year to 3.16 trillion won, said Hana Financial Investment on Oct. 26 maintaining a “buy” recommendation.

Concerns about corporate and economic growth

LG Innotek’s earnings momentum will continue until next year, said Korea Investment and Securities on Oct. 25 maintaining a “buy” recommendation and 190,000 won (US$166.74) target price.

LG International’s third-quarter earnings were slower than expected, said NH Investment and Securities on Oct. 25 lowering the target price to 25,000 won (US$21.93) from 34,000 won.

Gold prices rose on Thursday towards a more than three-month high hit earlier this week, as a selloff in global equities triggered safe-haven bids for the metal amid rising political and economic uncertainties.

The S&P 500 is down 7% since its late September record high, but some individual stocks in the index have suffered much greater losses.

Unit trust funds in the global equity and local resources sub-categories performed strongly in the third quarter of this year, largely because of the weaker rand, while South African general and industrial equity fared poorly. Global general equity funds were up 6.34%, on average, and South African equity resources funds up 5.6%, according to ProfileData. The resources funds performed spectacularly over the 12 months to September 30 (up 21.1%), and achieved an average of 22.51% a year over three years.

For nearly a decade, analysts have been considering where the next market downturn will come from and when it will strike. But with the Dow Jones Industrial Average’s 800-point drop on Oct. 10, 2018, some asset managers are wondering whether it’s already begun.

Safe-haven demand is once again boosting gold prices as U.S. equity markets drop 2% across the board.