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Gold Hits Record High as Investors Seek Safety Amid Global Tensions
Gold rose above $4,690/oz and silver near $94/oz as investors sought safe assets amid US-EU trade tensions and geopolitical risks, silver gained nearly 30% this January.
- On Monday, investors pushed spot gold and silver to record highs, with prices surging above $4,690/oz and $94/oz for the first time.
- Amid rising trade tensions, U.S. President Donald Trump's 10 per cent tariff on EU nations and Greenland threats revived uncertainty and weighed on investor sentiment, analysts said.
- Silver exhibited heightened volatility last week, dipping toward $86/oz before rebounding to close near $90/oz as tight physical supply and industrial demand drove nearly 30 per cent mid-January returns.
- Raw materials stocks rose 1.4 per cent as gold miners benefited from safe-haven buying, while the S&P/ASX200 dropped 35.6 points to 8,780.3 and Commonwealth Bank shares slid to $147.45.
- Mining and resource firms saw Westgold, Evolution and Emerald Resources gain between 5.8 and 8.2 per cent while Paladin Energy surged more than 13 per cent and Lynas rose to $16.12 after a 43 per cent revenue boost.
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Gold (XAU/USD) price rallies past $4,750 to a new record high near $4,766 on Tuesday amid escalating geopolitical tensions, including the trade war between the US and the European Union, along with the sudden jump of global bond yields, following a “tepid 20-year debt auction earlier in the day,” ac
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Leaning Left1Leaning Right2Center2Last UpdatedBias Distribution40% Center, 40% Right
Bias Distribution
- 40% of the sources are Center, 40% of the sources lean Right
40% Right
L 20%
C 40%
R 40%
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