Gold makes run toward $1 300 as risk flares from UK to Mideast

June 7, 2017

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Gold’s taking aim at $1 300 an ounce. The metal has rallied to the highest since November as investors position themselves for the outcome of the UK election and potential drama of former FBI Director James Comey’s testimony, while also tracking tensions in the Middle East.

Bullion for immediate delivery was at $1 292.02 an ounce at 7:21 a.m. in London, holding near Tuesday’s intraday peak of $1 296.15, the highest level since November 9, according to Bloomberg generic pricing. The climb has been supported by a fall in the dollar, which has sunk to the lowest since October.

Category: General