Gold, Yen Climb to 5-Month Highs as Refuges Sought: Markets Wrap
- S&P 500 decline pushes volatility index to new five-month high
- Yields on 10-year U.S. notes approach lowest level of the year
Port Shelter's CEO Says Gold Might Be Interesting
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Gold and the yen rallied to five-month highs while Treasury note yields approached the lowest levels of the year as investors sought out traditional havens from geopolitical risks. The U.S. equity market’s standard fear gauge rose to the highest since November.
The yen strengthened versus all of its G-10 peers as tensions in Asia ratcheted higher, with North Korea warning of a nuclear strike if provoked and President Donald Trump saying on Twitter that the U.S. would “solve the problem” with or without China. U.S. Secretary of State Rex Tillerson said during a Group of Seven meeting in Italy that Russia must abandon its support of Syrian President Bashar al-Assad’s regime.