The Business Times
business-time-50
SUBSCRIBERS

Gold rally unlikely to fizzle out; observers expect record highs ahead

google-preferred-sourceAdd BT as a preferred source
Uma Devi

Uma Devi

Published Fri, Apr 19, 2024 · 05:00 AM
    • Gold spot prices were at a record US$2,398.16 on April 12, while futures hit an all-time high of US$2,407.80 per ounce on April 16. In the year to date, both spot gold prices and futures have advanced 15.1 per cent and 15.3 per cent, respectively.  
    • Gold spot prices were at a record US$2,398.16 on April 12, while futures hit an all-time high of US$2,407.80 per ounce on April 16. In the year to date, both spot gold prices and futures have advanced 15.1 per cent and 15.3 per cent, respectively.   PHOTO: REUTERS

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    MARKET watchers are expecting gold prices to hover closer to the US$3,000-per-ounce mark, following the commodity’s odds-defying rally despite interest rates and a stronger US dollar. 

    Already, prices of the precious yellow metal have hit new highs in recent days, on the back of escalating tensions in the Middle East. 

    Spot gold prices have been up about 1 per cent at the close of the Singapore market since April 13, when Iran launched a barrage of missiles and drones targeting Israel. In the US, gold futures are up 0.2 per cent. 

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Gold

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    Taxes can make up about 38% of the retail price of RON95 petrol in Vietnam, according to industry estimates.

    Vietnam acts fast to shield firms, households from fuel price surge

    Chinese Foreign Minister Wang Yi stopped short of explicitly naming the US or Israel as aggressors, a telling omission from a country that otherwise speaks with little diplomatic timidity.

    Beijing’s calculated silence on the Iran war 

    Changi Airport has now seen several European airlines add new direct flights to the city-state amid higher passenger demand.

    S-E Asia tourism takes hit from Middle East crisis, but intra-regional travel could spell hope

    US President Donald Trump (left) with Chinese President Xi Jinping at a bilateral meeting on the sidelines of the Apec summit in Busan last October.

    China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More