Gold was on track for a second consecutive weekly gain on Friday as political uncertainty in the US and a suspected Islamist attack in Spain boosted bullion’s safe-haven appeal. Spain mounted a sweeping anti-terrorism operation on Friday after a suspected Islamist militant drove a van into crowds in Barcelona, killing 13 people in what police suspect was one of a planned wave of attacks. Markets were also uncertain about US President Donald Trump’s ability to push ahead with policies after the disbandment of two high-profile business advisory councils over his remarks on violence in Virginia. "There is clearly more for financial markets to be concerned about," Danske Bank analyst Jens Pedersen said, referring to US political uncertainty and the attack in Spain. "That has led to a risk-off environment, and that’s supportive for gold." Spot gold rose by 0.6% to $1,295.28 an ounce by 9.35am GMT and is on course to extend last week’s gain of 2.5%. US gold futures for December delivery w...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.