Negative interest rates, financial turmoil and a weaker dollar should be drawing investors into gold, the traditional “safe haven”. Some are indeed returning, but after a dismal few years for bullion, so far they are dipping in their toes at most. There are good grounds for caution, and going decisively for gold may be a stretch too far if gains on global stock markets in the past two sessions mark a reversal of this year’s dive, rather than just a temporary blip.