Gold holds gains as stock selloff drives haven bond buying

Bloomberg+2 · 4 hours ago
Gold holds gains as stock selloff drives haven bond buying
  • Bullion traded near $4,155 an ounce after climbing 1.6% in the previous session.
  • Wall Street rotated out of chipmakers as concerns about the AI investment boom deepened, fueling a global bond rally.
  • Goldman Sachs initiated AngloGold Ashanti and Endeavour Mining with Buy ratings, citing increased central bank purchases that should support gold prices.
  • Reuters reported gold rebounding from a one-week low as the dollar slipped; the available source text is the headline only.

Quotes

“Gold steadied after rising the most in more than two weeks on Thursday as a stock selloff drove investors into bonds, pushing down Treasury yields.”— Bloomberg
“which cited increased central bank purchases that should support gold prices.”— Goldman Sachs

Sources