Russ Mould, investment director at AJ Bell, said: “There may not be any big geopolitical news to rival last week’s Greenland drama, but internal tensions in the US are helping to keep precious metals prices elevated.
“Gold has moved through $5,000 for the first time – showing investors are still seeking out the traditional haven for some insurance against what remains a febrile backdrop.
“In less than 18 months bullion has more than doubled in value – buoyed by central bank demand, global turmoil, dollar weakness, and the diminished appeal of other popular defensive assets.”
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