International news within the industry of mining and metal, May, 23 2019
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Gold Price Glimbs Near $1,300 Report Say

US factory activity slumps to lowest in 2 years on the 2nd of January 2019. Manufacturing ISM index posts biggest fall since 2008, and 3rd biggest drop in 35 years. Photo: Creative Commons, credit: StevebidMead
US factory activity slumps to lowest in 2 years on the 2nd of January 2019. Manufacturing ISM index posts biggest fall since 2008, and 3rd biggest drop in 35 years. Photo: Creative Commons, credit: StevebidMead
Published by
Markku Björkman - 03 Jan 2019

Market turmoil allows investors to look for safer investments such as gold. The gold price during the day has been at the highest level since June 15 last year. At 14 o'clock, the price of $ 1,284 per ounce after today's past peak was $ 1,288.

The silver price has also risen and is now trading at the highest level since August last year.

Gold is trading at session highs, the last trading at $1,290.30/oz and up 0.73% on the day with a low of $1,278.94/oz. Data from the labour market did little to halt gold’s upward climb, likely fueled by the ISM report in part and by an overall sense of economic uncertainty worldwide.

Turbulent financial markets, Brexit, and the US/China trade war are all contributing factors which are leading to concerns of an overall slowdown in global economic growth, making gold a more appealing investment to those looking for a safe financial haven.