Gold continues to climb on political uncertainty

Wednesday, 26. December 2018 15:17

Prices of precious metals benefited on Wednesday from the escape to safety by investors concerned about the effects of the government shutdown in the United States in the immediate future. However, sentiment has also been dominated continuously by fears related to the trade war with China, the Brexit uncertainties and the path of interest rates in the world's biggest economy.

Gold, which has today reached $1,276.63 per ounce, the highest point since June 19, would be underpinned if the Federal Reserves stops with hikes or starts to cut borrowing costs. The yellow metal was 0.46% in the green at 3:16 pm CET, selling for $1,275.18.

Silver traded 0.97% in the green at $14.92 for one troy ounce after touching $14.96, a level last seen on August 28, and eyeing the psychological $15 mark. Platinum gained 1.32% to $798.1, a one-week low, and palladium climbed 0.3% to $1,232.66 per ounce.

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