Gold hits a six-year high, boosted by trade war escalation fears
Fears of a slowdown in global growth and expectations of more rate cuts by the Fed also helped bullion’s more than 1% rise
05 August 2019 - 16:44
Bengaluru — Gold rose to a more than six-year high on Monday, gaining more than 1%, as an escalating trade conflict between the US and China sent investors scurrying for the safety of bullion.
Spot gold was up 1.5% at $1,462.40 an ounce as of 1pm GMT, after hitting its highest level since May 2013 at $1,464.60. US gold futures rose 1.2% to $1,474.30...
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.