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Gold jumps to highest level in about 7 weeks on fresh tariff tensions


Friday, 31 May 2019 20:46 WIB

GOLDEMAS


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Gold futures rose firmly on Friday as investors fled to the perceived safety of havens like precious metals amid fresh signs of escalation in tariff tensions between the U.S. and its global trade partners.

Gold for August delivery on Comex climbed $8.50, or 0.7%, to $1,300.50 an ounce, putting the metal on track for the highest finish for a most-active contract since April 10, FactSet data show.

The early gains put the metal on pace for a 1.4% weekly gain, and a 1.2% advance for the month.

July silver meanwhile, shed a penny, or 0.1%, to $14.480 an ounce, and was on pace for a weekly skid of 0.5% and a decline of 3.4% for May.

Source: Marketwatch


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