US futures edged lower and Asian shares were mixed Friday, with Tokyo’s Nikkei 225 trading near record high levels.
The prices of gold and silver surged to records, extending their sharp gains for the year as investors including central banks have stocked up on the precious metals, which are viewed as safe havens in times of uncertainty.
The price of gold gained 0.8% to 4,538.80 a troy ounce, while silver jumped 4.5% to $74.90 per ounce.
Earlier surges in gold prices reflected worries during the US government shutdown. Expectations that the US Federal Reserve will cut interest rates further in the new year, weakening the dollar against other currencies, have also fuelled buying of gold.
Gold is doing what gold does when the world loses its anchor: it becomes the anchor, Stephen Innes of SPI Asset Management said in a recent report. For centuries, gold has been the one asset that doesn’t blink. When politics goes sideways, when currencies fray, when inflation eats the furniture, gol​US futures edged lower and Asian shares were mixed Friday, with Tokyo’s Nikkei 225 trading near record high levels.
The prices of gold and silver surged to records, extending their sharp gains for the year as investors including central banks have stocked up on the precious metals, which are viewed as safe havens in times of uncertainty.
The price of gold gained 0.8% to 4,538.80 a troy ounce, while silver jumped 4.5% to $74.90 per ounce.
Earlier surges in gold prices reflected worries during the US government shutdown. Expectations that the US Federal Reserve will cut interest rates further in the new year, weakening the dollar against other currencies, have also fuelled buying of gold.
Gold is doing what gold does when the world loses its anchor: it becomes the anchor, Stephen Innes of SPI Asset Management said in a recent report. For centuries, gold has been the one asset that doesn’t blink. When politics goes sideways, when currencies fray, when inflation eats the furniture, gol ​Latest News [ SOBAN NEWS: International and National ]
