Gold breaks $1,400 to re-enter bull market territory

Anna Fedorova
clock

Gold has climbed above the $1,400 per ounce mark for the first time since June, re-entering a bull market as disappointing US data and worries over Syria push investors into safe havens.

The price of the precious metal has risen more than 20% since its $1,180 intraday low on 28 June to trade at $1,417. A 20% rise or more in an asset price is the generally accepted definition of a bull market. The precious metal's surge comes despite the Federal Reserve's suggestion it will go ahead with QE tapering as planned, as recent US data has come in below expectations. Industrial production and new home sales last week and durable goods orders on Monday suggest the recovery in the US is moving more slowly than expected, which economists say could persuade the Fed to postpone ta...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Five years on from Covid: What's next for markets?

Five years on from Covid: What's next for markets?

It is now five years since the start of the UK’s Covid lockdown. Since then, we have seen considerable market and geopolitical-related change. Here, William Marshall looks back over the past five years and also explores what we might expect from markets...

William Marshall
clock 06 May 2025 • 4 min read
Gilt yields fall after Donald Trump backs down in 'tariff war'

Gilt yields fall after Donald Trump backs down in 'tariff war'

US president pauses most additional tariffs

Jonathan Stapleton
clock 10 April 2025 • 2 min read
Reeves defends yearly Budget to avoid 'constant chopping and changing'

Reeves defends yearly Budget to avoid 'constant chopping and changing'

Treasury Committee scrutinises chancellor on Spring Statement

Isabel Baxter
clock 02 April 2025 • 3 min read