Gold Rises To Eight Month High Amidst Global Uncertainty – 29 January, 2019

Global stock markets were mixed before trade talks between the U.S. and China, causing gold to hit an eight month high. Between Washington’s sanctions on Venezuela’s oil, Brexit uncertainty, and the U.S. charge against China’s tech giant Huawei, gold hit $1,310 per ounce in spot prices, its highest levels since May. U.S. gold futures rose 0.4 percent to $1,308.90 per ounce. Oil prices also rose, with Brent crude $1.39 to $61.32 per barrel, and West Texas Intermediate crude futures rose $1.21 to $53.31 per barrel. The euro gained 0.01 percent to $1.1434, and the dollar spot index gained 0.06 percent. Against the dollar, the yen dropped 0.01 percent to 109.33 per dollar. Sterling was last down 0.75 percent.