Gold Jumps on 'Flood of Money' as Tensions Reawaken Haven Demand
Monday, 3 June 2019 16:08 WIB | PRECIOUS METALS |GOLDEMAS Spot Emas

Gold is rediscovering its mojo as escalating concern about the U.S.-China trade standoff, losses in equities and concerns about slowing growth combine to spur haven demand, with the precious metal trading above $1,300 an ounce and building on the biggest weekly gain since January.

Bullion for immediate delivery rose as much as 0.6% to $1,312.85 an ounce, the highest since March 27, after adding 1.6% last week. With investors turning away from risk assets, bullion is set for fourth daily gain, the best run since March. Miners' shares rallied, with Newcrest Mining Ltd. surging in Sydney.

Spot gold traded 0.5% higher at $1,312.14 an ounce at 8:12 a.m. in London as silver, platinum and palladium also gained. In Sydney, stock in Newcrest, Australia™s biggest producer, spiked as much as 3.9% to the highest since 2012.

Source : Bloomberg

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