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Gold jumps, draws demand as a safety play away from embattled stock market
Thursday, 11 October 2018 19:11 WIB | PRECIOUS METALS |GOLDEMASEmas berjangka

Gold futures prices headed toward a third straight advance Thursday, with the metal™s haven status attracting buying as a sharp retreat for U.S. stocks spread to global markets.

December gold jumped $13.50, or 1.1%, to $1,207 an ounce, on track for the strongest finish in over a week. December silver rose 8 cents, or 0.6%, to $14.405 an ounce.

Gold gained with U.S. stock futures pointing to more red on Wall Street to start a new session, and with the dollar, a key driver for the precious metals, also lower. Another haven market, however, U.S. Treasury bonds - chief among culprits influencing rickety stock trading of late - drew their own fresh demand Thursday, halting for now the rise in yields that spooked stock investors. Bond prices and yields move inversely.

Source: Marketwatch

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