Sabre Gold Mines Corp (SGLDF)

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Gold price could rise to $1,300
Jun 6, 2017

Turmoil of 'Super Thursday' likely to increase demand

This afternoon the gold price was close to its highest levels this year, raising the possibility it could top $1,300 an ounce as political uncertainty – linked to the UK, Europe and the US – mounts.

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Spot gold was a little below $1,293 an ounce after earlier hitting around $1,294.

"Generally light positioning and numerous upcoming geopolitical events should continue to underpin demand for the metal," said Sam Laughlin, a senior precious metals trader at MKS, in a note reported by Reuters.

Laughlin said targets for the precious metal were now "extending to the 2017 high around $1,295 and the psychological level of $1,300 above this".

Today's move up is attributed to a fall in Treasury yields and the dollar in response to "political uncertainty from the United States to the Middle East", reports Reuters.

http://www.theweek.co.uk/gold-price/61682/gold-prices-respond-to-poor-us-jobs-data

https://www.msn.com/en-us/money/stockdetails/fi-125.1.KERMF.PINX?symbol=KERMF&form=PRFISB