Geopolitical Uncertainty Gold Safe Haven
Geopolitical tensions and economic uncertainty from the Delta variant of Covid-19 are supportive factors for a gold price rally.
Too little corroboration in the last 3 days to call a trend (37 articles). Watching for it to gain traction.
Mainstream financial press is carrying this — attention has broadened beyond specialist outlets.
"the yellow metal has staged a rally from its recent lows, driven by a soft dollar and elevated concerns over inflation. On the geopolitical front, uncertainties in the West Asia conflict continue to fuel inflationary pressure"
"Many analysts are fundamentally optimistic for the yellow precious metal because they consider expectations of US interest rate hikes to be somewhat exaggerated. An end to the US-Iran conflict would primarily reduce inflation risks and, in turn, reduce the need for central banks—primarily led by the US Federal Reserve—to raise interest rates. That, in turn, is positive for gold."
"Gold was hovering around USD 4,392 per ounce as crude oil rebounded on supply concerns emanating from West Asia... Oil prices gained after the 60-day US-Iran ceasefire expired on Monday."
"Geopolitical uncertainty is another factor supporting bullion. The lack of progress in US-Iran peace talks and concerns around oil supplies have kept investors cautious. Such uncertainty can increase demand for assets perceived as safe havens, including gold."
"If oil doesn't steal the show again, if the situation in the Middle East does not erupt and oil prices spike, then it looks as if the path of least resistance for gold is higher."
"Any disruption to regional oil supplies could revive inflation concerns and complicate the Federal Reserve's policy outlook, potentially limiting gains in assets such as gold despite the recent improvement in US inflation data."
"Gold has remained in focus as investors assess geopolitical risks and await the latest US inflation data for clues on the Federal Reserve's interest-rate path. Fresh tensions involving shipping in and around the West Asia have pushed oil prices higher, adding to uncertainty in global markets."
"Gold, meanwhile, has traded in a mirror image to the dollar, rising to its highest in around six weeks this week, compared with the dollar trading around six-week lows. The gold price has risen by more than 6% this week"
"gold-mining stocks rallied after bullion prices climbed to their highest level since June, with the VanEck Gold Miners ETF advancing 6.8%"
"The World Gold Council expects geopolitical risks and investor demand to support gold."