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Gold Opens 2016 With a Rally
truthingold.com / January 4, 2016 at 10:49
Gold and silver climbed on the first trading day of 2016 as rising tension between Saudi Arabia and Iran spurred a return to haven assets.
Bullion for immediate delivery gained 1.2 percent to $1,073.77 an ounce in London morning trade, according to generic pricing. The metal sank 10 percent in 2015, a third straight annual drop and the longest losing streak since 2000.
Gold, seen as a haven in times of turmoil, rose after Saudi Arabia cut ties with Iran. That followed an attack on the kingdom’s embassy in Tehran after it executed a prominent Shiite cleric. The gain in the metal followed losses in 2015 as prospects for rising U.S. interest rates boosted the dollar and made assets that offer a yield more attractive.
The post Gold Opens 2016 With a Rally appeared first on Silver For The People.
Source: http://silveristhenew.com/2016/01/04/gold-opens-2016-with-a-rally/
