Gold
Bid : 3,085.35/oz
Ask : 3,094.61/oz
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Bid : 36.81/oz
Ask: 36.92/oz
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Bid: 1,369.08/oz
Ask : 1,404.68/oz
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Gold
Bid : 3,085.35/oz
Ask : 3,094.61/oz
Silver
Bid : 36.81/oz
Ask: 36.92/oz
Platinum
Bid: 1,369.08/oz
Ask : 1,404.68/oz
Refresh in 00:00

Gold Glitters as Geopolitical Gloom Grips Markets

October 10, 2023

The first days of the week have shone brightly for ASX gold names, with shares of major producers Newcrest and Northern Star rocketing over 5%. Yet it’s not simply bullion’s value that lifts these miners – geopolitics play a potent role too.

While gold futures signal a modest 0.94% premium, more telling forces are the intractable Israel-Hamas conflict and its darkening of global sentiment. No end is in sight to violence that risks wider turbulence. As safe-haven demand swells during such episodes, gold proves its precious place as a portfolio panacea.

Smaller players outperform too, like the 6.91% surge of Bellevue. De Grey leads with 8.97% returns as its Tier 1 portfolio protects from instability. The latter’s upswing indicates not all seek only large-caps – junior miners amounting to real value above their previous prices.

Looking beyond today, ongoing crises could buoy gold for some time. With costs of conflict unknown and markets on edge, investors naturally flock to stabilizing shelters like the yellow metal. Its standing inspires confidence that shares of companies extracting this key commodity will keep their shine.

While optimism prevails as indices rise, deeper shadows loom that persistently underpin gold. For prudent portfolios, exposure maintains resilience against risks ahead that could darken foreseeable futures. In an ominously uncertain world, such prudent luminaries in the natural safe haven continue meriting attention.

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