Gold surged to the highest level in more than six years on Monday (Jan 6) as fast-rising tensions in the Middle East stoked demand for haven assets, with US investment bank Goldman Sachs saying that bullion offered a more effective hedge than oil to the crisis. Palladium extended gains to an all-time high.
Gold “has entered 2020 with strong momentum”, Mr Gavin Wendt, senior resource analyst at MineLife Pty in Sydney, said in an e-mail. “When you factor in ongoing uncertainty with respect to US-China trade talks and heightened security issues with Iran, gold really is a no-brainer.”
Metal Tiger Plc (LON:MTR) is a London Stock Exchange AIM-listed investing company primarily focused on undervalued natural resource opportunities.