Gold rises in the early Asian trade. Its recent surge past $3,600/oz reflects investor demand for safe-haven assets due to deepening global economic and geopolitical uncertainty, Sean Hoey, managing director of IBV International Vaults London writes in a note.
There has been a sharp rise in demand for physical precious metals which are insulated from broader market volatility, Hoey adds.Spot gold is 0.3% higher at $3,633.87/oz.
Source: Bloomberg
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