Gold climbs further into record territory

Business | 25 Jun 2019 5:52 pm

Geopolitical tensions helped nudge investors into gold today, driving the precious metal deeper into record territory.

August gold gained US$19, or 1.3 percent, to US$1,437.40 an ounce, which could put the precious metal on track for the highest settlement for a most-active contract since May 10, 2013, according to FactSet, MarketWatch reported. Gold climbed by 1.3 percent to settle at US$1,418.20 today, for the strongest settlement for a most-active close since August 28, 2013, according to FactSet. The metal gained by 4.1 percent last week.

Expectations for lower interest rates among global central banks and geopolitical concerns are making gold a preferred investment these days. The Japanese yen, another perceived haven investment, was up by 0.3 percent against the dollar.

The yield on the 10-year note fell by 2 basis points to 1.998 percent.

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