Gold price gains 1% after attacks on Saudi Arabia oil plants
Bullion is benefiting from its safe-haven status as geopolitical tensions rise post-attacks, as well from being a treated as a hedge against expected inflation
16 September 2019 - 15:08
Bengaluru — Gold rose more than 1% on Monday after an attack on key oil facilities in Saudi Arabia inflamed worries over the stability of the Middle East, driving investors to seek refuge in assets seen as a haven from risk.
A 20% bounce in oil prices in response to the attack also raised concerns over a potential rise in inflationary pressures, against which gold is often perceived as a hedge...
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