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07-06-2017, 01:30 PM
Gold Makes Run Toward $1,300 as Risk Flares From U.K. to Mideast
by Ranjeetha Pakiam
June 7, 2017, 7:53 AM GMT+8 Updated on June 7, 2017, 11:44 AM GMT+8
Gold’s taking aim at $1,300 an ounce. The metal has rallied to the highest since November as investors position themselves for the outcome of the U.K. election and potential drama of former FBI Director James Comey’s testimony, while also tracking tensions in the Middle East.
Bullion for immediate delivery was at $1,291.98 an ounce at 11:34 a.m. in Singapore, holding near Tuesday’s intraday peak of $1,296.15, the highest level since Nov. 9, according to Bloomberg generic pricing. The gains have also been supported by a fall in the dollar, which has sunk to the lowest since October.
Gold is 13 percent higher in 2017, and a Bloomberg survey this week signals more gains. The latest leg up has been supported by rising haven demand as U.K. voters head to the polls on Thursday, with the result set to dictate how the country handles Brexit. The same day, Comey appears before a Congressional panel to testify about his probe into President Donald Trump campaign’s ties to Russia, while the European Central Bank issues a policy decision.
More details in https://www.bloomberg.com/news/articles/...to-mideast
by Ranjeetha Pakiam
June 7, 2017, 7:53 AM GMT+8 Updated on June 7, 2017, 11:44 AM GMT+8
Gold’s taking aim at $1,300 an ounce. The metal has rallied to the highest since November as investors position themselves for the outcome of the U.K. election and potential drama of former FBI Director James Comey’s testimony, while also tracking tensions in the Middle East.
Bullion for immediate delivery was at $1,291.98 an ounce at 11:34 a.m. in Singapore, holding near Tuesday’s intraday peak of $1,296.15, the highest level since Nov. 9, according to Bloomberg generic pricing. The gains have also been supported by a fall in the dollar, which has sunk to the lowest since October.
Gold is 13 percent higher in 2017, and a Bloomberg survey this week signals more gains. The latest leg up has been supported by rising haven demand as U.K. voters head to the polls on Thursday, with the result set to dictate how the country handles Brexit. The same day, Comey appears before a Congressional panel to testify about his probe into President Donald Trump campaign’s ties to Russia, while the European Central Bank issues a policy decision.
More details in https://www.bloomberg.com/news/articles/...to-mideast
Specuvestor: Asset - Business - Structure.