Gold advanced above $1,300 an ounce to extend a new year rally. Gold advanced above $1,300 an ounce to extend a new year rally. “This rally in gold is based on investors increasingly realizing that gold is ‘safe money’,” Rainer Michael Preiss, an executive director at Taurus Wealth Advisors Pte, said before prices broke $1,300. The rally past $1,300 is considered an important psychological hurdle that could spur additional buying, according to analysts including George Gero at RBC Wealth Management. “If that trend continues, then gold will continue to assert its role as a safe haven.”Read more about:

Source: thestar January 04, 2019 02:03 UTC