Gold soars to its highest level since April 2018 as tensions in the Middle East push investors into haven assets
Gold prices climbed Friday as mounting concerns about the health of China’s economy hit riskier commodities and tensions in the Middle East pushed investors into haven assets.
Gold futures for August delivery, the most-actively traded U.S. contract, jumped 1.2% to $1,359.50 a troy ounce, the highest level since April 2018. The rise accelerated after the National Bureau of Statistics released figures showing that Chinese industrial production grew at its slowest pace in 17 years in May, adding to fears that Beijing’s efforts...
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