Political Risks Push Gold to Five-Month High on Haven Demand
- Metal closed above 200-day average first time since November
- Goldman says prices may rise in coming weeks, before falling
This article is for subscribers only.
Concerns about rising global tensions surrounding Syria and North Korea are revitalizing demand for gold as a haven, with the metal trading near the highest since Donald Trump was elected U.S. president.
Bullion touched a five-month high Wednesday. A standoff between the U.S. and Russia after an American missile strike on Syria and Trump’s pledge to solve the North Korean “problem” with or without China have deepened concerns about political stability. There are also signs that Russia and the U.S. are increasingly at odds over Afghanistan.