Gold again flirted with multiyear highs hit earlier this week on Friday morning, as Italian political jitters and another wrinkle in the U.S.-China trade talks sent investors scampering into safe haven assets.
“Risk aversion spikes again on reports U.S. won’t ease Huawei restrictions,” said Raffi Boyadjian, analyst with the brokerage XM, speaking of the Chinese technology firm that has featured in trade talks.
“Safe-haven favorites such as the yen and gold headed higher... Gold moved back toward Wednesday’s six-year peak,” he said.
Early Friday, December gold on Comex was up $4, or 0.3%, at $1,513.50 an ounce. Its finish Thursday at $1,509.50 marked the highest level for the precious metal since 2013 based on most-active contracts, according to Dow Jones Market Data. The metal is headed for roughly 3.8% gain for the week.
Source : Marketwatch