Gold climbed on Wednesday, with prices settling at their highest since mid-June on the first full trading day of 2019.
Losses in Asian equities and volatility in the U.S. stock market fueled some buying interest among traders, despite strength in the dollar. "2019 is already getting off to a volatile start and we expect to see the political and economic uncertainty of 2018 continue and deepen, which will support gold," said Mark O'Byrne, research director at GoldCore. "We are positive on gold in January and in 2019 as the market backdrop looks very supportive."
February gold rose $2.80, or 0.2%, to settle at $1,284.10 an ounce. That was the highest finish for a most-active futures contract since June 14, according to FactSet data.
Source : Marketwatch