Gold Rallies on Haven Demand as U.S. Missiles Hit Syrian Targets
- Metal supported by report on fewer-than-estimated U.S. jobs
- ‘The situation in Syria continues to deteriorate,’ Eliseo says
The Geopolitical Risks Syria Poses on Markets
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Gold rallied to the highest in almost five months after the U.S. launched a missile strike against Bashar al-Assad’s regime in Syria. The metal was supported by a report that showed the American economy added fewer jobs than economists expected.
Spot gold climbed as much as 1.5 percent to $1,270.87 an ounce in New York, the highest intraday since Nov. 10, and broke through the 200-day moving price average, indicating upward momentum. Bullion later pared gains as traders looked past the geopolitical situation and the flight to quality eased.