Gold rises 1% on geopolitical risks

Friday, 14. June 2019 09:08

Precious metals traded in the green on Friday with gold adding 1% during the European trade as investors grew increasingly worried about the rising geopolitical tensions. Market watchers turned towards safe-haven assets such as the yellow metal following an attack on two tankers in the Gulf of Oman, especially after the US accused Iran of being behind the attacks, a claim Tehran categorically denied. Meanwhile, trades also continued to anticipate the US interest rate decision.

Spot gold gained 1.04%, changing hands for $1,256.37 per ounce at 9:03 am CET, rising to the highest level since April 11, 2018. Meanwhile, silver added 0.92% to trade for $15.04 per ounce at 9:04 am CET while platinum increased 0.39% to go for $815.11 per ounce at the same time. In the meantime, palladium rose 0.38% to sell for $1.453.69 per ounce at 9:05 am CET.

The euro traded 0.06% higher against the US dollar to change hands for 1.1282 at 9:05 am CET.

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