Gold Set for Best Month in Two Years as Angst Fuels Haven Demand
- Political dysfunction in D.C. and equities turmoil spur demand
- Holdings in gold-backed ETFs have risen for 13 straight days
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Gold is soaring, set for the biggest monthly gain in almost two years after the partial U.S. government shutdown and concerns about the 2019 economic outlook stoked demand for the metal as a haven.
Gold futures touched a six-month high as U.S. stocks remain volatile and the shutdown in Washington enters its fifth day amid no signs of progress to resolve the dispute over funding for a wall on the southern border. That’s helped to push money managers to their most bullish position on gold in half a year, while holdings in exchange-traded funds backed by bullion rise.