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Gold Clawing Toward $1300

Gold futures inched higher Tuesday, rebounding from early losses to extend recent gains. The precious metal benefited from its safe haven appeal amid falling stocks today.

Lingering geopolitical tensions and weak economic news have also lifted gold prices of late. Prime Minister Theresa May today called for an early general election to be held June 8 to seek a strong mandate for Brexit.

June gold rose $2.20, or 0.2%, to settle at $1,294.10 an ounce, the highest since November 4.

Global economic growth is strengthening, thanks to a long-awaited cyclical recovery in investment, manufacturing, and trade, though downside risks remain, the International Monetary Fund said in a report released Tuesday.

by RTT Staff Writer

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