• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Minerals
    Tech
    Life Science
    Precious Metals Market
    Precious Metals News
    Precious Metals Stocks
    • Precious Metals Market
    • Precious Metals News
    • Precious Metals Stocks
    gold investing

    Gold Holds Steady Above US$1,400 Thanks to Safe Haven Demand

    Nicole Rashotte
    Jun. 24, 2019 11:15AM PST
    Precious Metals
    ASX:ANZ

    After the Fed’s dovish tone last week, gold has made gains and has stayed over US$1,400 thanks to continued support from safe haven demand.

    Gold made gains and touched an almost six year high on Monday (June 24) as investors leaned into the yellow metal as a safe haven after tensions between the US and Iran intensified. 

    The precious metal is now heading toward a fifth straight week in the green as the feud between the two countries continues to fester.

    Despite US President Donald Trump’s statement on Sunday (June 23) that he will not be seeking war with Tehran, Washington is set to announce “significant” sanctions on Iran later on Monday.

    Gold is also being supported by a dovish tone coming from central banks.

    “We are just seeing continued improvement in sentiment built around the more dovish tone from central banks, but clearly the safe haven buying has also picked up with the US-Iran tensions escalating over the weekend,” said Daniel Hynes, an analyst at ANZ (ASX:ANZ).

    What the yellow metal is currently experiencing is a perfect storm of a potential Fed interest rate cut and ongoing geopolitical issues.

    “(These factors are becoming) a currency war, creating the perfect environment for gold to break out,” Chantelle Schieven, research head at Murenbeeld & Co., told the Investing News Network in an email.

    Gold’s rise has also impacted gold exchange-traded funds (ETFs), where inflows are swelling. This movement could have the ability to drive the yellow metal’s price even higher.

    Funds backed by the precious metal have experienced the biggest surge since 2016, increasing their assets by 32 tonnes on Friday (June 21).

    “Gold bulls are back in control,” said Edward Moya, senior market analyst at Oanda, in a note. He added that the yellow metal remains supported by expectations of an interest rate cut at the Fed’s July meeting.

    “The question is no longer will the Fed ease, but by how much? The Fed historically likes to kick on an easing cycle with a bang and a 50 basis point cut should become the base case.”

    There is now speculation in the markets that the yellow metal has more upside than downside, thanks also to recent weakness from the US dollar.

    “Since the new bull market started in December 2015, we have seen higher lows in the gold price — and now we could very will be in the higher highs phase,” Schieven said.

    However, she cautioned, “With any breakout, there will likely be pullbacks along the way, and we could see a major pullback if significant progress is made on the trade war front or the Fed signals that it is not going to cut rates as much as markets currently expect.”

    Looking ahead, investors will turn their attention towards the G20 summit happening in Japan this week, as they look to see whether or not Washington and Beijing can resolve their trade dispute. Depending on how talks shape up, gold could be breaking records by beating the six year high it is currently circling.

    As of 11:56 a.m. EDT on Monday, gold was up 1 percent, trading at US$1,413 per ounce.

    Don’t forget to follow us @INN_Resource for real-time news updates!

    Securities Disclosure: I, Nicole Rashotte, hold no direct investment interest in any company mentioned in this article. 

    g20 summitasx:anzchantelle schievenmurenbeeld & co.us president donald trumpgold investing
    The Conversation (0)

    Go Deeper

    AI Powered
    Three gold bars on price chart with magnifying glass.

    What Was the Highest Price for Gold?

    Gold bars in front of a rising stock market graph.

    Gold Price Update: Q3 2025 in Review

    Latest News

    Feysville Land Use Agreement Signed With Marlinyu Ghoorlie

    NAE Raises $3.75m to Advance Wagyu and Lammerlaw

    Quimbaya Gold Announces C$10 Million Bought Deal Financing

    Gold and Crypto: Redefining the Future of Finance

    Lahontan Closes Strategic York Claims Purchase at Santa Fe

    More News

    Outlook Reports world

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Precious Metals Stocks

    Rua Gold

    RUA:CC

    Pinnacle Silver and Gold

    PINN:CC

    JZR Gold

    JZR:CA

    Blue Jay Gold

    Providence Gold Mines

    PHD:CC

    Mount Hope Mining

    MHM:AU
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES