Gold Futures Rise on Lingering Safe-Haven Demand -- Market Talk
Gold futures rise as persistent market uncertainty starts to reassert itself. Futures are up 0.2% at $3,339.20 a troy ounce. The precious metal has steadied after sharply selling off earlier in the week, as the Israel-Iran cease-fire hit safe-haven demand.
That said, safe-haven demand is still being supported by both geopolitical and trade-related risks, XS.com's Samer Hasn says in a note.
Despite optimism for the cease-fire, the possibility of renewed escalation remains, as U.S. strikes only appear to have delayed Iran's nuclear program by a few months according to a leaked U.S. intelligence report, Hasn writes.
Market attention could also shift to still unresolved trade tensions. The suspension of U.S. tariffs on the European Union is set to expire in mid-July and a deadline for China in mid-August, he adds.
Source: Dow Jones Newswires