Enquire Now

Please provide your details to reserve space at Guardian Vaults.

Do you agree to receive promotional emails from us?
Would you like to receive our guide to Gold and Silver Bullion?

Enquire Now

Please provide your details to reserve space at Guardian Vaults.

Do you agree to receive promotional emails from us?
Would you like to receive our guide to Gold and Silver Bullion?

Enquire Now

Please provide your details to reserve space at Guardian Vaults.

Do you agree to receive promotional emails from us?
Would you like to receive our guide to Gold and Silver Bullion?

Enquire Now

Please provide your details to reserve space at Guardian Vaults.

Do you agree to receive promotional emails from us?
Would you like to receive our guide to Gold and Silver Bullion?

Enquire Now

Please provide your details to reserve space at Guardian Vaults.

Do you agree to receive promotional emails from us?
Would you like to receive our guide to Gold and Silver Bullion?

Enquire Now

The number of investors buying gold is on the increase as more people look to safe havens to counter recent geopolitical tensions.

Gold prices were moderately improved and reached three-week highs in the US on Monday (June 16), Forbes reports.

August Comex gold jumped US$7.50 to $1,281.60 an ounce, while spot gold was last quoted as $5 up at $1,281.50. July Comex silver last traded up $0.04 at $19.695 an ounce.

The move to gold was precipitated by rising tensions in Iraq. The Sunni rebel group claimed it had executed 1,700 Iraqi Shiite government soldiers, with the situation in the country said to have deteriorated over the weekend.

It has been reported that rebels captured Iraqi government military hardware, as well as hundreds of millions of US dollars held in Iraq’s central bank. Media sources also say the US may be reaching out to Iran in an effort to help deal with mounting tensions.

Similarly, problems in Russia-Ukraine relations are still damaging investor confidence in Europe. Russia has reportedly cut natural gas supplies to its neighbour and said it would only provide resources if the Ukraine paid up front.

Elsewhere, gold prices may continue to grow following a US Federal Reserve Open Market Committee meeting this week, which will include a press briefing by Fed Chair Janet Yellen.

At the meeting, the central bank is expected to continue tapering its bond-buying program. The Fed has made a number of $10 billion cuts to quantitative easing this year, bringing the monthly amount down from $85 billion to $35 billion.

Chicago Fed President Charles Evans this month suggested the central bank will continue to make cuts to the bond-buying program throughout 2014.

“The expectation is that tapering will be completed by the end of this year,” he explained to delegates at a conference in Istanbul.

Gold prices surge as investors seek safe haven

The number of investors buying gold is on the increase as more people look to safe havens to counter recent geopolitical tensions.

Gold prices were moderately improved and reached three-week highs in the US on Monday (June 16), Forbes reports.

August Comex gold jumped US$7.50 to $1,281.60 an ounce, while spot gold was last quoted as $5 up at $1,281.50. July Comex silver last traded up $0.04 at $19.695 an ounce.

The move to gold was precipitated by rising tensions in Iraq. The Sunni rebel group claimed it had executed 1,700 Iraqi Shiite government soldiers, with the situation in the country said to have deteriorated over the weekend.

It has been reported that rebels captured Iraqi government military hardware, as well as hundreds of millions of US dollars held in Iraq’s central bank. Media sources also say the US may be reaching out to Iran in an effort to help deal with mounting tensions.

Similarly, problems in Russia-Ukraine relations are still damaging investor confidence in Europe. Russia has reportedly cut natural gas supplies to its neighbour and said it would only provide resources if the Ukraine paid up front.

Elsewhere, gold prices may continue to grow following a US Federal Reserve Open Market Committee meeting this week, which will include a press briefing by Fed Chair Janet Yellen.

At the meeting, the central bank is expected to continue tapering its bond-buying program. The Fed has made a number of $10 billion cuts to quantitative easing this year, bringing the monthly amount down from $85 billion to $35 billion.

Chicago Fed President Charles Evans this month suggested the central bank will continue to make cuts to the bond-buying program throughout 2014.

“The expectation is that tapering will be completed by the end of this year,” he explained to delegates at a conference in Istanbul.

Disclaimers: Guardian Vaults Holdings Pty Ltd, Registered Office, Scottish House, 100 William Street, Melbourne, Victoria, 3000. ACN 138618176 (“Guardian Vaults”) All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from the publisher and/or the author. Information contained herein is believed to be reliable, but its accuracy cannot be guaranteed. It is not designed to meet your personal situation. Guardian Vaults, its officers, agents, representatives and employees do not hold an Australian Financial Services License (AFSL), are not an authorised representative of an AFSL and otherwise are not qualified to provide you with advice of any kind in relation to financial products. If you require advice about a financial product, you should contact a properly licensed or authorised financial advisor. The information is indicative and general in nature only and is prepared for information purposes only and does not purport to contain all matters relevant to any particular investment. Subject to any terms implied by law and which cannot be excluded, Guardian Vaults, shall not be liable for any errors, omissions, defects or misrepresentations (including by reasons of negligence, negligent misstatement or otherwise) or for any loss or damage (direct or indirect) suffered by persons who use or rely on such information. The opinions expressed herein are those of the publisher and/or the author and may not be representative of the opinions of Guardian Vaults, its officers, agents, representatives and employees. Such information does not take into account the particular circumstances, investment objectives and needs for investment of any person, or purport to be comprehensive or constitute investment or financial product advice and should not be relied upon as such. Past performance is not indicative of future results. Due to various factors, including changing market conditions and/or laws the content may no longer be reflective of current opinions or positions. You should seek professional advice before you decide to invest or consider any action based on the information provided. If you do not agree with any of the above disclaimers, you should immediately cease viewing or making use of any of the information provided.