Gold prices climbed as turmoil in emerging markets and a swoon in global stocks renewed investor interest in haven assets.
Prices for the precious metal are up 5.6% from the three-year nadir reached in December. Recent economic data suggest an uneven U.S. housing and labor-market recovery, while political and economic troubles have gripped developing economies from Turkey to India.
The gains follow months of punishment for gold bulls. Prices fell 28% in 2013, snapping a 12-year winning streak and making the precious metal one of the worst-performing assets of the year.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015