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Gold hits one-week high after US strikes in Venezuela
Gold rose to a one-week high on Monday, after U.S. strikes in Venezuela added to bullion's safe-haven appeal. Spot gold rose 2.7% to $4,444.52 an ounce by 1:38 p.m. ET (1838 GMT), after earlier hitting its highest level since December 29. Gold hit an all-time-high of $4,549.71 on December 26. U.S. gold futures for February delivery settled 2.8% higher at $4,451.5 an ounce. "The situation around Venezuela has clearly reactivated safe-haven demand, but it comes on top of existing concerns about geopolitics, energy supply and monetary policy," said Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany. ... (full story)
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