Gold price hits six-year high as investors await US interest rate cut
by Jasper Jolly from Economics | The Guardian on (#4KG0R)
One troy ounce reaches $1,452.60 amid increased US-Iran tensions
Gold prices have hit their highest levels in six years as investors brace for an interest rate cut by the US Federal Reserve and seek a safe haven amid tensions between Washington and Tehran.
The price of one troy ounce of gold peaked at $1,452.60 on Friday morning, the highest point since May 2013, with fears over the Persian Gulf standoff also driving up the price of a commodity that is viewed as a market refuge during geopolitical crises.
Related: UK's June budget deficit hits four-year high in blow to next PM - business live
Continue reading...