Gold Futures Prices Hits 9-Month High, Buoyed by Geopolitical Worries

Gold Futures Prices Hits 9-Month High, Buoyed by Geopolitical Worries

Gold futures prices rose to the highest level in nine months on Friday, infiltrated to the $ 1,300 threshold for the first time since Nov 2016 with some investors gravitate towards safe-haven assets on political uncertainty in the United States, and a series of terrorist attacks in Spain on Thursday to support the request for safe haven.

Spot gold climbed 0.3 percent to $1,291.65 per ounce, after climbing for two straight days.

Comex gold futures were up around $8.99, or about 0.7%, to $1,301.53 a troy ounce, the highest since Nov 2016.

Gold prices rose after hitting a van in a pedestrian in a crowded tourist area in Barcelona this evening, killing at least 14 people and wounding 100 others.

Shortly afterwards, a second attack took place in Barcelona’s coastal city of Cambrils, where police said they killed five attackers.

Local officials said three men had so far been arrested as counterterrorism operations across the country were still under way.

The Islamic state claimed responsibility for the incident, although the claim was not verified.

Asian Asian investors joined a global decline in risk assets on Friday and the dollar fell on growing doubts about US President Donald Trump’s ability to achieve his economic agenda.

MCX Gold was up 0.12 per cent, or Rs 36, at Rs 29187 per 10 gram.

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