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The Wall Street Journal reported that the gold price rose Tuesday on the back of safe-haven demand spurred by global growth concerns. The yellow metal recently enjoyed its best quarter in decades.
The Wall Street Journal reported that the gold price rose Tuesday on the back of safe-haven demand spurred by global growth concerns. The yellow metal recently enjoyed its best quarter in decades.
As quoted in the market news:
Gold for June delivery was recently up 0.1% at $1,231.30 a troy ounce on the Comex division of the New York Mercantile Exchange.
Oil prices slipped and stock markets around the world declined Tuesday, as an uncertain global economic picture kept investors cautious. Some investors turn to gold during times of political or economic stress, believing it will hold its value better than other assets in turbulent periods.
“There’s still a bit of a run for safety going on,” said Ira Epstein, a strategist at the LinnGroup.
Click here to read the full report from The Wall Street Journal.
