Gold

Gold (Forex Index pm fix) - Today's data summary

% change
-0.19%
Price dollars per ounce
1500.70
Change
-2.80
As of 07:33 20 Sep 2019

Gold (Forex Index am fix) - Today's data summary

% change
-0.25%
Price dollars per ounce
1498.40
Change
-3.80
As of 07:33 20 Sep 2019

Latest updates

Gold price up

Bar of gold
Getty Images

It is not just the price of oil that is climbing.

Gold prices are on the rise too amid the uncertainty created by the two attacks on Saudi Arabian oil facilities on Saturday.

The price has risen around 1% to $1,503 as investors seek out gold for its 'safe haven' status.

Where next for gold prices?

Gold bar
Getty Images

It is a fool's errand to try and predict where asset prices may be heading.

But a measure of calm appears to have returned among investors after last week's rush to safe havens.

What does that mean for the price of gold, which is now a touch below $1,500 an ounce at $1,469?

The rally in bond markets seems to have paused at least for now and we've seen some additional gains in stocks over the weekend, so a bit of a more optimistic start to the week is helping to attract profit-taking in gold. However, gold is holding above the $1,500 level and key support level around $1,480 - $1,485 area. But with bond yields moving up a notch, there isn't much room for gold buyers."

Ole Hansencommodity strategist, Saxo Bank

Gold prices tick lower

gold
Getty Images

Most markets are quite quiet in August, leading to more price swings than usual.

Still, gold is down as stock markets tick up and investors - the ones who are not on holiday - embrace more risk.

Gold for delivery now was down 0.9% at $1,500.10.

The position of gold as an investment is a curious one. It is indestructible and is seen as protection against inflation. But in many developed economies inflation is a rare thing, and it produces no income like property, shares and bonds might.

Gold loses its shine

Gold bullion
AFP

The price of gold, an indicator of market confidence because investors see it as a "safe-haven" for their money, has dipped today.

Yesterday, the price per ounce of gold reached $1,510, breaching the $1,500 level for the first time since 2013.

But today, prices fell below that landmark level with gold changing hands for $1,495 an ounce, indicating a slight recovery in investor confidence.

Gold tops $1,500 an ounce

gold bars
Getty Images

Gold prices have surged through $1,500 a troy ounce for the first time in more than six years.

The demand for the precious metal has risen as investors seek a safe haven asset amid growing concerns about a slowdown in the global economy.

Flight to gold

Today Programme

BBC Radio 4

gold
Getty Images

Claire Shaw from SYZ Asset Management also spoke to the Today Programme about the turmoil whcih has been gripping world markets. One of the beneficiaries is gold, she said.

"Investors are seeking shelter from the gathering storm. You saw gold top $1,500 yesterday which is the highest level since 2013, year-to-date its up 17% and the natural course of action in this turmoil is a flight to safety and gold is he chief beneficiary of the turmoil we’re seeing in the financial markets at the moment."

Worth his weight in gold?

Not any more. Neymar's worth much more than that
Not any more. Neymar's worth much more than that. Diamonds, perhaps. Economics correspondent Andrew Walker on the true value of a top footballer.
(Picture: The Brazilian footballer Neymar.
Credit: Reuters)