Category : Currency
The price of gold shot to an 11-week high on Wednesday as escalating geopolitical risks saw investors seeking safe haven assets.
Gold futures marked a third straight session of gains on Tuesday, buoyed by a weaker U.S. dollar and uncertainty surrounding U.S. reaction to a possible chemical-weapons attack in Syria.
The dollar fell against the yen and Swiss franc on Wednesday after China retaliated against the Trump administration’s plan to slap tariffs on Chinese goods, proposing a list of similar duties on a wide range of U.S. imports.
The trade war, the economic crisis and the weak dollar are boosting investment in gold, which is rapidly increasing in value.
Bitcoin fell below $7,000 on Friday, moving closer to the lows the world's number one virtual currency reached in February.
Gold bulls are finding 2018 offers plenty of reasons to be cheerful.
Gold is the become the main target for investors.
Global gold investment up for fifth consecutive year since 2018
Goldman Sachs is expecting gold to "outperform" over the coming months.
The Central Bank of Russia (CBR) has been increasing its holdings of gold every month since March 2015.