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Gold reaches fresh 3-month highs amid risk aversion

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - Gold climbed to a fresh 3-month high on Tuesday as the yellow metal was underpinned by safe-haven demand amid risk aversion.

    Spot gold rose above the previous day’s peak and reached a fresh high at $1,1130 an ounce, last seen on November 3.

    The metal is rising for third day in a row as it extends a broader bounce from multi-year lows struck in December.

    Stocks and oil prices fell sharply on Tuesday sparking risk aversion across financial markets, which continues as the main driver in the absence of major economic data or events.
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