Gold Hits $2,000 as Investors Move to Safe Havens
Gold rose, topping the US$2,000 mark for the first time in more than a month, even as the dollar and bond yields touched multi-year highs.
Price for June delivery was last seen up US$26.00 to US$2,000.90 per ounce, the highest since March 10.
Russia’s invasion of Ukraine and an expected move from the Federal Reserve to boost interest rates by as much as 50-basis points at its early May policy meeting have put a bid on safe haven assets like gold and the dollar, while boosting bond yields.
The ICE dollar index was last seen up 0.23 points to 100.55, after earlier touching 100.76, the highest since March, 2020. The yield on the US 10-year note was last seen up 3.1 basis points to 2.861%, the highest since late 2018.
