Gold Rallies As Credit-Market Stress And Fed Concerns Fuel Investor Demand

Benzinga

Gold extended its rally after the biggest weekly gain in five years, rising to $4,260 an ounce as credit stress, Fed concerns, and global tensions fueled safe-haven demand. RBC now sees gold hitting $4,500–$5,000.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Gold prices continued their rally after posting their largest weekly gain in five years,

00:07driven by credit market stress and geopolitical uncertainty, according to the Wall Street Journal.

00:13Futures in New York rose 0.9% to $4,251 a troy ounce.

00:20ANZ analysts said persistent concerns about Federal Reserve independence

00:24and global tensions sustained demand for the metal as a strategic hedge.

00:28Prices briefly eased after Trump suggested U.S.-China trade tensions might ease,

00:34though RBC Capital Markets said investors are increasingly comfortable holding gold as part of their portfolios.

00:41RBC raised its price forecasts, now targeting $4,500 to $5,000 per ounce under base and high scenarios.

00:50Spot Gold last traded at $4,260.58 an ounce.

00:55For all things money, visit Benzinga.com.

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