Geopolitical tension, a natural disaster and subdued U.S. inflation helped to boost haven demand for gold in August, its best month since January. The precious metal closed above $1,300 for the first time since November last month and continued to get a tail wind with September opening on payrolls data that missed economists’ estimates. Even Ray Dalio, head of the world’s largest hedge fund, was on board, recommending investors place as much as 10 percent of assets in gold amid political and economic risks.
Source: Bloomberg Pro Terminal
Trader Bozhidar Arabadzhiev
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