Gold prices have hit their highest levels in more than six months amid global economic slowdown and investors seeking a safe haven in the precious metal.
#Gold touched its highest in more than six months on Wednesday as sagging equities compounded concerns over weakening global markets, prompting safe-haven flows into the precious metal https://t.co/FX7b5Plg1A pic.twitter.com/5BUnZmGc50
— Arab News (@arabnews) January 2, 2019
Gold prices have reached $1,288.86 an ounce – the highest since 15 June – this morning. It had last touched its highest on June 15 at $1,288.66.
US gold futures also rose 0.5 percent to $1,287.10.
Last year, stock markets had their worst year since the financial crisis. Global shares have started 2019 on a downbeat note amid concern of a global economic slowdown.
Meanwhile, silver fell 0.2 per cent to $15.41 while platinum fell 0.24 per cent to $789.60.