Insignia Consultants | Safe-haven demand lifts gold to 2-week peak, focus on Fed meet
Safe-haven demand lifts gold to 2-week peak, focus on Fed meet
3 weeks ago
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May 6 (Reuters) - Gold prices rose to a two-week high on Tuesday, as tariff threats from U.S. President Donald Trump lifted demand for the safe-haven metal, while the Federal Reserve's policy decision this week was also in focus.
Spot gold rose 1.2% to $3,372.01 an ounce, as of 0810 GMT, after hitting its highest since April 22 earlier in the session.
"The structural factors that supported gold in recent weeks are all still around - trade tensions are not fixed, concern about the dollar as a reserve currency," said UBS analyst Giovanni Staunovo.
"We are still looking for gold to retest the $3,500 mark this year."
