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This week had seen how Gold's value had surged exponentially. The precious metal had gained $79.52, bringing its value up from $1,438.78 to $1,518.30 per Troy Ounce as of 12:05PM GMT+8 today.
The heated U.S.-China trade war had made a way for the metal to make gains as investors pour their money to Gold being a safe haven asset. The uncertainties fostered by the trade war currently sees no resolution, compelling market participants to fight through investment on safe haven assets.
So far, Gold has risen 4.6% this week. Market analysts agree that this just might be its best week in more than 3 years.
Analyst Daniel Hynes has this to say:
“The ongoing issues on the trade front have been battering markets for the course of this week,”
He adds that it is evident that markets price in consideration to further rate cuts due to trade tensions rearing its heads support investment demand for gold.
Given the price movement, a trader can earn $7,952 for 1 lot trade or 100 Troy Ounces.
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