- Gold closed at a two-month high today, settling just $6 shy of $1,300/oz., as tensions between the U.S. and North Korea sparked demand for safe-haven assets.
- Gold recently has attracted some high profile advocates such as Ray Dalio of Bridgewater Associates, who urged investors to hedge their risks with gold amid growing global tensions.
- Capital Economics says gold is a preferable hedge against geopolitical events that directly involve the U.S. but the metal's recent gains could quickly reverse; “If [the tension] appears to be a lot of hot air, we expect gold prices to fall back quite quickly,” says Capital chief commodities economist Caroline Bain.
- Precious metals miners rose during the past three days as other stock sectors fell: ABX +3.2%, FNV +6.8%, NEM +2.2%, GG +3.6%, AEM +3.6%, EGO +5.2%, IAG +3%.
- ETFs: GLD, GDX, NUGT, GGN, DUST, IAU, PHYS, SGOL, GOEX, UGLD, UGL, DGP, SGDM, GLL, GTU, GLDI, ASA, DZZ, OUNZ, RING, DGLD, DGL, TGLDX, DGZ, PSAU, GDXX, GYEN, GEUR, GLDW, UBG, GDXS, GHS
- Now read: Locked And Loaded: 5 Risk Indicators To Watch
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Gold nears $1,300/oz. as safe-haven assets find favor
Published 08/11/2017, 05:20 PM
Updated 08/11/2017, 05:20 PM
Gold nears $1,300/oz. as safe-haven assets find favor
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