5/19, 3:15 PM (Source:
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Gold trades in the green towards new 5-week high

Precious metals traded in the green on Friday with gold heading towards the highest level in five weeks as investors remained concerned over the political turmoil induces by Trump administration. Earlier in the week, reports emerged the president revealed confidential information to Russians and had attempted to stop the FBI probe into former National Security Advisor Michael Flynn's alleged contacts with foreign officials. Therefore, higher political uncertainty in the US switched investors' focus towards save-haven investments such as gold. 

Spot gold added 0.54%, changing hands for $1,253.92 per ounce at 3:09 pm CET. Silver was also higher, rising 1.55% to trade for $16.84 per ounce at 3:10 pm CET. In the meantime, platinum increased 1.18%, trading for $944 per ounce at the same time while palladium gained 0.33% to change hands for $768.50 per ounce at 3:11 pm CET.

The US dollar shed 0.77% against the euro, trading for 0.8938 at 3:12 pm CET.

TeleTrader Newsroom / VK