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Gold Price Flirts with $1,600 and Highest Settlement in Nearly 7-Years


Monday, 6 January 2020 20:56 WIB

GOLDEMAS


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Gold futures on Monday soared to their highest level since April of 2013, as the killing last week of a top Iranian military commander, Qassem Soleimani, reverberated through financial markets, momentarily upending appetite for assets considered risky and boosting traditional haven assets like gold and bonds.

February gold on Comex added $25.90, a gain of 1.7%, to last trade at $1,578.70 an ounce, after it briefly touched $1,590.90 in intraday action, representing the metal's highest level since April 1, according to FactSet data. The move for bullion comes after the commodity settled on Friday at the loftiest level since Sept. 4.

March silver picked up 33 cents, or 1.8%, to trade at $18.480 an ounce.

Last week, the most active gold contract gained 2.3%, its second week of gains, while silver prices added 1.1%, also landing it higher for two consecutive weeks.

Source : Marketwatch


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