Equity World – Gold prices reached the peak of three months at the end of trading on Thursday morning (09/02), since the European elections political risk and concerns over the policies of President Donald Trump triggered safe-haven demand.

Investors are concerned about the strong potential French presidential candidate Marine Le Pen, who has promised to bring France out of the euro zone and to hold a referendum on EU membership.

 

Equity World | High Gold Prices Due European Politics

But the euro rose as investors were also wary of protectionist policies and immigration Trump and hints that he would prefer a weaker dollar.
LLG spot gold price was up 0.48 percent at $ 1,239.13 per ounce, its highest since November.
US gold futures prices ended $ 3.40 higher at $ 1,239.50 per ounce.

Showed increasing concern over the French election, the gap between the results of 10-year government bonds of France and the German equivalent of their low risk in its widest since November.

Owners SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 1.01 percent to 826.95 tonnes on Tuesday from Monday. Owners rose for the fifth session.

 

Equity World | High Gold Prices Due European Politics

Spot gold price of silver rose 0.47 percent to $ 17.79, after marking the highest since November.

Platinum jumped 1.05 per cent to $ 1,011.30, after touching the highest since November 9 at $ 1,015.80.

Palladium rose 0.92 percent to $ 769.60.

the analyst expects the price of gold has the potential to move up triggered political uncertainty in Europe and the US, as well as the weakening US dollar. Gold prices are expected to move in Resistance range $ 1.241 – $ 1.243, and if the price drops will move in a range Support $ 1.237 – $ 1.235.

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