HOLD!7 Aug 2019 09:13
"The world right now is in a precarious state and gold is due to benefit from this situation," said Howie Lee, economist at Oversea-Chinese Banking Corporation.
Gold was changing hands at about $1,495 per ounce on Wednesday midday Asia time — having risen nearly $12 on the day.
A host of global factors mean gold's price is set to maintain its strength at least for the next six to 12 months, according to an economist from a top Singapore bank.
"The world right now is in a precarious state and gold is due to benefit from this situation," said Howie Lee, economist at Oversea-Chinese Banking Corporation.
Gold was changing hands at about $1,495 per ounce on Wednesday midday Asia time — having risen nearly $12 on the day. Lee said Tuesday that the metal is set to soon breach $1,500.