8/12/2019, 8:55 PM (Source: TeleTrader)
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Precious metals surge, gold at highest in over 6 years

Concerns over a global economic downturn fueled a surge in safe-haven assets on Monday. With no end in sight to the trade war between China and the United States, safe-havens rallied as stocks on Wall Street took a beating.

Last week, analysts at Goldman Sachs predicted gold prices will soar to $1,600 per ounce over the next six months as investors flock to the yellow metal amid trade tensions.

Gold soared 1.19% to $1,515.40 per ounce at 2:46 pm ET, its highest since April 12, 2013. Meanwhile silver jumped 1.03% to $17.14 per ounce. At the same time, palladium gained 0.71% to $1,435.24 per ounce as platinum declined 0.09% to $860.05.

Breaking the News / JC