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Gold Nears Fresh Record High On Safe-Haven Demand
(MENAFN- Gulf Times) Gold prices continued to trade near record highs on Wednesday, as renewed US-China trade tensions prompted investors to seek refuge in the safe-haven metal, while expectations of a potential US interest rate cut further supported bullish sentiment.
Spot gold was up 0.4% at $4,155.99 per ounce.
US gold futures for December delivery gained 0.3% to $4,174.30.
The precious metal, which yields no interest and is widely viewed as a store of value in times of economic and geopolitical uncertainty, reached a record high of $4,179.48 per ounce on Tuesday.
Gold prices record highs trade tensions
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