Agencies: we have nowhere to hide except in cash in new highs of gold
The near-month contract for gold futures closed at a new all-time high, ending 1.5 per cent higher at $2,984.30 an ounce. Futures have closed higher for a third straight session, accumulating 3.2%. Gold prices rose to levels close to $3,000 an ounce as major stock indexes entered or approached correction territory. Robert Yawger, head of the U.S. energy futures unit at Mizuho Securities, said in a report that uncertainty related to tariffs is driving an investor exodus to safer assets and pushing the price of gold higher. He said, ‘We have nowhere to hide except in cash in record-high gold.’
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
USPD Releases V1 Attack Aftercare Plan and V2 Reconstruction Roadmap
pStake undergoes brand upgrade, transforming into a research-driven AI and Web3 laboratory
Japanese listed company Metaplanet to issue senior Class A preferred shares MARS
Bloomberg: Ripple completes $500 million share sale, investors receive special protection clauses