Safe Haven Demand As Rising Risks

Gold surged over $1,436/oz this morning, it’s highest level in almost six years as an escalation of US sanctions on Iran added to heightened geopolitical uncertainty and uncertainty in global markets.

Market participants are also concerned about the G-20 summit this weekend where it is hoped that President Donald Trump and China’s Premier Xi Jinping will meet to discuss the deepening trade war.
Gold has closed above $1400 for first time since 2013 as investors diversify into safe haven gold to hedge the growing global risks including the risk of much looser monetary policies again and of zero percent and negative interest rates.

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