Gold Rises as Political Tensions Ramp Up
April 11 2018 - 1:05PM
Dow Jones News
By Ira Iosebashvili
Gold prices shot to their highest level in nearly two months
Wednesday, as investors sought the haven asset amid rising tensions
between the U.S., Russia and Syria.
Gold for June delivery was recently up 1.5% at $1,365.80 a troy
ounce on the Comex division of the New York Mercantile Exchange,
the highest level since mid-February.
President Donald Trump said early Wednesday that U.S. missiles
"will be coming" to Syria, and warned he was willing to challenge
Russia directly in launching a military strike against Syrian
President Bashar al-Assad's forces over an alleged chemical-weapons
attack. The comments benefited prices for gold, a popular
destination for investors during times of political or economic
uncertainty.
Political tensions also buoyed prices for palladium, a key
Russian export. Palladium for June delivery was recently up 1.5% at
$963.10 a troy ounce.
In base metals, aluminum for delivery in three months rose 2.2%
to $2,250 a metric ton on the New York Mercantile Exchange. Russia
is the world's second largest exporter of aluminum, after
China.
Copper fell 0.3% to $3.1280 a pound.
Write to Ira Iosebashvili at ira.iosebashvili@wsj.com
(END) Dow Jones Newswires
April 11, 2018 12:50 ET (16:50 GMT)
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