23rd July 2014
Gold futures have inched higher in commodities trading markets today (July 23rd), with investors continuing to favour the precious metal over riskier assets.
Bullion is traditionally seen as a safe store of value during periods of economic or geopolitical uncertainty and has strengthened in recent sessions following the downing of the MH17 Malaysian Airlines passenger jet and the continuing violence in Gaza.
While risk aversion has eased somewhat after Ukrainian rebels handed over the black boxes from the wreckage of the aircraft, demand for gold has once again been supported.
The metal dipped by 0.5 per cent yesterday following the publication of figures showing US home sales reached an eight month high in June, which sent the dollar to an eight-month high versus the euro in forex trading markets.
However, it has been in demand once more today and traded 0.08 per cent higher at $1,307.70 per ounce on the Comex division of the New York Mercantile exchange early in the European session.
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