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Political Turmoil in UK & US Sees Gold Hit 2 Week High

Political Turmoil in UK & US Sees Gold Hit 2 Week High

For first time in over 16 years, palladium futures settle at a premium to gold futures

Gold futures on Wednesday resumed their climb toward the psychologically important price of $1,300 an ounce, settling at their highest in nearly two weeks on the back of political turmoil in the U.K. and U.S.

Caution among traders had deepened “ahead of a no-confidence vote on British Prime Minister Theresa May’s government and other geopolitical risks, including the U.S. government shutdown, loom large in investors minds,” said Mark O’Byrne, research director at GoldCore.

“Physical demand for gold coins and bars has picked up in the U.K. and Ireland, due to Brexit and U.K. political uncertainty,” he added.

Excerpt of article and full article can be accessed on MarketWatch here.

 

Political Turmoil in UK & US Sees Gold Hit 2 Week High

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Mark O'Byrne
I founded GoldCore more than 10 years ago and it has been my passion and a huge part of my life ever since. I strongly believe that due to the significant macroeconomic and geopolitical risks of today, saving and investing a portion of one’s wealth in gold bullion is both wise and prudent.
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