Gold still holds its haven status


NEW YORK (Scrap Register): Gold might be range-bound lately but the metal is still holding up due to its safe-haven status, said commodities brokerage SP Angel.

Stock-index futures are pointing to a higher open on Wall Street in the wake of Friday’s news that the U.S. economy added 313,000 jobs last month. But while lower, gold has not sold off sharply.

“The precious metal still holds its haven status, remaining persistently over $1,300 an ounce, as uncertainties remain over President Donald Trump’s meeting with North Korean leader Kim Jong Un and the impact of the trade tariffs,” SP Angel added.

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