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Gold reaches fresh 3-month highs amid risk aversion

FXStreet (Córdoba) – Gold climbed to a fresh 3-month high on Tuesday as the yellow metal was underpinned by safe-haven demand amid risk aversion.

Spot gold rose above the previous day’s peak and reached a fresh high at $1,1130 an ounce, last seen on November 3.

The metal is rising for third day in a row as it extends a broader bounce from multi-year lows struck in December.

Stocks and oil prices fell sharply on Tuesday sparking risk aversion across financial markets, which continues as the main driver in the absence of major economic data or events.

Gold climbed to a fresh 3-month high on Tuesday as the yellow metal was underpinned by safe-haven demand amid risk aversion.

(Market News Provided by FXstreet)

US stocks follow world markets and oil lower

FXStreet (Mumbai) – The stock markets in the US are painted in red as investors took cues from the oil-driven risk aversion in the European equity markets.

At the time of writing, the Dow Jones Industrial Average (DJIA) traded 264 points or 1.6% lower on the day. The S&P 500 and the Nasdaq were down atleast 1.2% each. The DJIA Oil and Gas index was down 3.3%. All major sectors were trading in the red.

Shares in Chevron and Exxon Mobil were down 3% each. Goldman Sachs was down 3.6%.

The European stocks extended losses following a weak opening on the Wall Street. The Euro Stoxx 50 index now trades 2.7% lower on the day.

The stock markets in the US are painted in red as investors took cues from the oil-driven risk aversion in the European equity markets.

(Market News Provided by FXstreet)