Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Gold rose above $1,240 an ounce on Wednesday, acting as counter against risk alongside top-rated government bonds as oil’s fall rippled into global equity markets.
Spot gold rose as much as 1.5 percent to a session high of $1,245 an ounce, and was up 1.4 percent at $1,243.33 by 1439 GMT.
The market’s rediscovered role as a shelter for risk-averse investors seemed to be gaining traction, traders and analysts said, even as the dollar gained ground against a basket of major currency rivals.
