Gold climbs toward $5,600 as geopolitics and weak U.S. outlook lift bullion
Gold climbs toward $5,600 as geopolitics and weak U.S. outlook lift bullion
Geopolitical tensions and a softer U.S. outlook push gold toward record territory, with Indian futures also hitting new highs amid global demand.
Gold prices surged to a fresh record near $5,600 an ounce as investors sought safe-haven assets amid escalating geopolitical tensions and signs of weakening U.S. economic momentum. Spot gold rose about 2.2% to $5,516.71 an ounce by 0947 GMT, after briefly touching an all-time high of $5,594.82 earlier in the session. U.S. gold futures for February delivery jumped nearly 4% to around $5,509.60, having earlier peaked at $5,626.80. The metal has notched nine consecutive sessions of record highs and is up roughly 28% so far this month.
