Gold pierced the $1,300 level to extend a new year rally. Investors flocked to the metal with global equities in retreat, signs of a slowdown stacking up, and the oldest of havens showing its mettle as exchange-traded funds draw in increased flows.

Futures spiked as much as 0.4 percent to $1,300.40 an ounce on the Comex, the highest price since June, and were at $1,297.80 at 11:21 a.m. in Singapore. Spot prices were not far behind, hitting as much as $1,298.60. Silver also surged, hitting the highest since July.



Gold has become the go-to commodity in the opening days of 2019 as investors contemplate a deteriorating worldwide outlook and factor in fewer, if any, Federal Reserve interest rate hikes this year. On Thursday, a gauge of U.S. manufacturing sankby the most since the 2008 recession a day after Apple Inc.cut its revenue outlook, fueling concern that the trade war with China is taking a bigger-than-expected toll on growth. The partial U.S. government shutdown has also spurred a risk-off mood.


Source and more:
Gold Surge to Above $1,300 Amid Slow Downs. https://www.sanwomi.com/2019/01/gold-surge-to-above-1300-amid-slow-downs.html

Good we took the initiative earlier.....