Safe-Haven Demand Boosts Gold Prices, London Mining Stocks Rally

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Safe-Haven Demand Boosts Gold Prices, London Mining Stocks Rally

Deep News01-05

Mining companies listed in London opened with widespread gains, as safe-haven demand propelled gold prices higher. Ipek Ozkardeskaya from Swissquote Bank noted that it is unsurprising to see investors flocking to safe-haven assets like gold as they assess the developments in Venezuela. New York gold futures climbed 2.4% to $4,431.20 per ounce. Hochschild Mining, Fresnillo, and Endeavour Mining each saw gains of around 5%, while Anglo American advanced 3.2%, and Glencore rose 2.6%. Despite the prevailing uncertainties, the overall market performance remained stable during the opening session.

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