Gold rose for fifth straight session on Tuesday to its highest level in about a month as Sino-U.S. tensions and fears of a possible recession burnished the metal’s safe-haven appeal.
Spot gold was up 0.3% at $1,777.79 per ounce by 10:56 a.m. ET (1456 GMT). U.S. gold futures gained 0.6% to $1,795.90.
Expectations of toned down rate hikes and a clear slowdown in the economy have significantly supported gold, said David Meger, director of metals trading at High Ridge Futures.
KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.