Gold futures continued to grow as investors kept their strong demand for rescue assets.
Metal futures with delivery in August added $12.1, or 0.9% to a level of $1,294.80 per ounce. This was the highest metal price since April 18th.
Why Investors Buy Gold?
Purchases take place shortly before the early parliamentary elections in the UK on 8 June.
In addition, the former FBI head is in the process of hearing, which could seriously raise investor concerns about Donald Trump's controversial actions.
We can not fail to mention the forthcoming ECB interest rate meeting as well as the increased tensions in the Middle East with regard to the allegations of Qatar that it supports terrorist organizations.
Interestingly, the rise in rescue assets comes at a time when the fear index continues to trade at levels close to the lowest for the past 30 years.
Or investors who believe that gold may continue to rise as a result of increasing uncertainty can safely look at the VIX index.
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