Gold hits 1-mth high, geopolitical tensions support

Reuters/Nithin ThomasPrasad/05-30-17

Gold edged up to touch a one-month high on Tuesday, with investors turning to the safe-haven asset as geopolitical tensions sapped their appetite for risk.

…Risk surrounding the closeness of Britain’s upcoming elections, the prospect of early elections in Italy and worries over Greek debt were supporting gold, said Jeffrey Halley, a senior market analyst at OANDA.

“The picture will get more muddy as the week goes on as we have a lot of data from around the world coming in,” he said.

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