We've been bangng on and on about the reasons for gold's bid so I won't do uit again.
This from ANZ on Friday trade recap to add into the mix:
- Gold prices broke through USD1,900/oz as investors sought safe havens amid rising geopolitical tensions and a weakening economic backdrop.
- China retaliated to the closure of its Houston embassy by US authorities by closing the US embassy in Chengdu. The deteriorating relationship has brought into question the longevity of the recent trade deal, with the President Trump saying "the deal means less to me than when I made it".
- However, it's the fear that the economic recovery is stalling that is boosting gold's appeal.
