Skip to main content
The Markets by Proactive
Go to Proactive UK
Proactive UK has moved. Proactive’s coverage of London’s small caps continues on proactiveinvestors.com Go there →
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Gold & silver

Gold surges to new record of $3500 as safe haven demand swells

The price of gold has surged to $3,500 per ounce as the metal's safe haven qualities were sought amid continued gobal economic uncertainty.

Gold rose to the new milestone on Tuesday morning, up from just over $3,400 a day ago.

The yellow metal's price has leapt $500 in the past six weeks and over $800 since the start of the year.

On the stock market, the rise in the price was reflected in gold and precious metals miners topping the risers. Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) and Fresnillo PLC (LSE:FRES) led the FTSE 100, both up over 3%, while among the mid caps, Hochschild Mining PLC (LSE:HOC, OTCQX:HCHDF) jumped 7.3%.

Analyst Matt Britzman at Hargreaves Lansdown said European stock markets were "opening with a cautious note this morning, taking cues from the broad risk-off sentiment spreading around the globe".

While European markets were closed on Monday for the Easter bank holiday, Wall Street saw another sell-off after President Trump laid more criticism on the head of the US Federal Reserve.

Britzman said financial markets "are now itching for real progress on trade deals" and the "lack of certainty is sending investors right into the arms of traditional safe haven assets" such as gold.

Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK