SP Angel: Geopolitical Tensions Drive Safe-Haven Gold Demand
Safe-haven flows into the gold market havecontinued as the world awaits a possible U.S. military response to suspectedchemical-weapons attacks in Syria, says SP Angel. The commodities brokeragecites news reports that flights of coalition aircraft have been spotted nearthe Syria-Iraq border, and U.S. President Donald Trump intensified preparationsfor a response by cancelling a planned weekend trip to South America andconferring with European allies on retaliatory steps. Then this morning, Trumpwarned missiles “will be coming” to Syria. As of 9:40 a.m. EDT, ComexJune gold was $9.50 higher to $1,355.40 an ounce and hit a two-weekhigh of $1,359. SP Angel cites news reports showing holdings in gold exchange-traded funds have climbed to thehighest level since 2013.
By Allen Sykoraof Kitco News; asykora@kitco.com
Commerzbank:U.S. Sanctions Vs. Russia Boost Palladium
Wednesday April 11, 2018 10:02
The tensionsbetween Western nations, including the U.S., and Russia have enabled palladiumprices to bounce lately, says Commerzbank. Nymex June palladium traded up to$954.80 an ounce Tuesday and Wednesday as a rally continues from a low lastweek of $890.85. “Palladium is continuing to surge as it has beendoing since Friday on the back of U.S. sanctions against Russia...,” Commerzbanksays. Russia is the world’s leading producer of palladium.
By Allen Sykoraof Kitco News; asykora@kitco.com
RBC’s Gero: GoldInvestors Finding Reasons To Add To Positions
Wednesday April 11, 2018 10:02
Investors are returningto gold amid geopolitical and other worries, says George Gero, managing director with RBC WealthManagement. As of 9:40 a.m.EDT, ComexJune gold was $9.50 higher to $1,355.40 an ounce and hit a two-weekhigh of $1,359. “Gold continues up moves asinvestors see more reasons to add to positions - more-than-usual geopolitics,more than economic numbers, more than stocks’ violent moves, [and] more thantariff talks,” Gero says. He notes that the number of positions in gold futures has beenrising lately. “Asset allocators are sure to notice that price makes news andvice-versa, as [the] price of gold is a political and economic barometer,” Geroadds.
By Allen SykoraFor Kitco News
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asykora@kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.