Gold News & Info

Source: Bill Musgrave, American Gold Exchange

Austin— Gold edged up 0.1% to close above $1,288, notching five straight winning sessions, as growing Brexit fears stoked demand for safe-haven assets.

Equities tumbled again, with the Dow dropping 0.6% and the Global Dow 1.2%, as investors shed risk ahead of next week's British vote on whether to exit the European Union. A Brexit would damage global growth and severely tighten financial markets, according to most analysts.

Government bonds rallied again, with yields on German bunds falling into negative territory and U.S. Treasury yields plunging to new 3.5-year lows.

The dollar rose on safe-haven inflows, in part because Treasury bonds must be purchased in U.S. currency. Its rise was hampered by expectations that the Fed will not raise interest rates at its meeting on monetary policy this week.

The other precious metals, more directly tied to industry than gold, finished lower. Silver dipped 0.1% while platinum and palladium lost 2.4% and 1.9%, respectively.

At the Comex close: August gold edged up $1.20 to $1,288.10; July silver dipped 2 cents to $17.42; July platinum lost by $23.40 to $971.90; and September palladium fell $10.10 to $535.75 an ounce.