Gold surges to one-year high on fears of financial uncertainty – Yahoo Finance

Gold surged nearly 4 percent on Thursday to its highest in a year as fears about financial instability, a lower dollar and U.S. Treasury yields persuaded investors to seek refuge in the precious metal. Traders said financial instability fears were fuelled by European bank shares slumping to multi-year lows, with concerns mounting over banks’ profitability in a low-growth and low-interest rate environment. Spot gold jumped as much as 3.6 percent to $1,240.90 an ounce, its highest since February 2015, and was up 3 percent at $1,233.70 at 1254 GMT.

Source: Gold surges to one-year high on fears of financial uncertainty – Yahoo Finance