China and Iran Increase Interest in Major Gold ETFs

Singapore (May 8)  If one thing has proven true over the years and works in favor of the gold bugs, it is that the price of gold thrives on geopolitical uncertainty. With U.S. interest rate hikes on hold and with negative bond yields back to dominating the news in Europe, now we have a fragile trade deal with China being backtracked on the core points by China and Iran partially withdrawing from its 2015 nuclear program agreement. This is a pressure cooker for the price of gold.

U.S. Equity futures were down yet again on Wednesday, but gold was trading up $3.10 at $1,289.16 in early-bird trading on Wednesday.

Reuters