Markets started this week with a definite tilt towards the risk-averse thanks to an ever-present collection of geopolitical and economic concerns, pushing gold higher during Tuesday trading.
The precious metal has been able to start the week off strongly as traders increasingly lose their appetite for risk in the face of the ongoing US and China trade war, the new prospect of a US – EU trade war as we reported in our Friday bulletin, tensions between the US and Iran over oil and the Middle East, news that the German Chancellor has told the British PM there is ‘virtually no hope’ of a Brexit deal and the possible impeachment of President Trump. It’s not a good time to be a politician it seems with storm clouds at home and abroad. Add that into a still lacklustre economy and gold is shining bright as a safe haven.
The political tensions pushing gold higher are undoubtedly set to linger – meaning it may be a terrible time to consider a career in politics but it’s an opportune moment to buy gold.
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