{"id":41290,"date":"2024-05-20T20:23:22","date_gmt":"2024-05-20T20:23:22","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-hits-record-high-as-iran-shock-triggers-haven-support"},"modified":"2024-05-20T21:55:15","modified_gmt":"2024-05-20T21:55:15","slug":"gold-hits-record-high-as-iran-shock-triggers-haven-support","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-hits-record-high-as-iran-shock-triggers-haven-support","title":{"rendered":"Gold hits record high as Iran shock triggers haven support"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>The price of gold hit a record high Monday as the shock death of Iranian President Ebrahim Raisi in a helicopter crash boosted support for the precious metal seen as a haven investment.<\/p>\n

Copper also struck an all-time peak and silver jumped to the highest level in more than 11 years \u2014 with markets generally gaining from a brighter economic outlook.<\/p>\n

Gold had already hit a series of record highs this year.<\/p>\n

Asian and European stock markets began the week higher, having recently struck all-time peaks along with indices on Wall Street, where the Dow ended above 40,000 points for the first time on Friday. All three Wall Street indices rose to strike new intraday highs.<\/p>\n

Copper and gold are priced in US dollars, which has come under pressure recently from expectations that the US Federal Reserve will soon start to cut interest rates as inflation cools.<\/p>\n

Gold struck a record $2,450.07 an ounce Monday, while copper\u2019s all-time high stood at $11,104 per tonne.<\/p>\n

Raisi was confirmed dead on Monday after search and rescue teams found his crashed helicopter in a fog-shrouded western mountain region, sparking mourning in the Islamic republic.<\/p>\n

Foreign countries had been closely following the search at a time of high regional tensions over the Gaza war raging between Israel and Hamas since October 7.<\/p>\n

\u201cGold and copper have hit record highs, (and) silver jumped to an 11-year high… after the death of Iran\u2019s president in a helicopter crash,\u201d noted Neil Wilson, chief market analyst at Finalto trading group.<\/p>\n

\u201cThere is a clear geopolitical premium since October 7th,\u201d he said, adding that \u201cexpectations the Fed will cut rates soon is helping\u201d.<\/p>\n

Analysts said market sentiment was boosted additionally by China\u2019s plan to support its struggling property sector.<\/p>\n

\u201cThe market is sensitive to these two metals because gold is considered an inflation hedge and a safe haven, and because copper is a metal that is linked to global growth,\u201d said Kathleen Brooks, research director at XTB.<\/p>\n

Oil prices dipped after initially jumping on the Iran news.<\/p>\n

Investors are looking to the release Wednesday of minutes from the Federal Reserve\u2019s May policy decision for some insight into the thinking of decision-makers.<\/p>\n

The release comes after data last week showed US inflation easing in April, reviving hopes the central bank would cut interest rates twice this year.<\/p>\n

There are also a number of companies reporting earnings this week, with NVIDIA centre-stage on Wednesday. The company\u2019s high-end processors have been prized by artificial intelligence companies, and the results could send the company\u2019s shares to a new record high.<\/p>\n

Key figures around 1530 GMT <\/b><\/p>\n

New York \u2013 Dow: UP 0.2 percent at 40,064.82 points<\/p>\n

New York \u2013 S&P 500: UP 0.4 percent at 5,323.83<\/p>\n

New York \u2013 Nasdaq Composite: UP 0.7 percent at 16,793.63<\/p>\n

London \u2013 FTSE 100: UP less than 0.1 percent at 8,424.20 (close)<\/p>\n

Paris \u2013 CAC 40: UP 0.4 percent at 8,195.97 (close)<\/p>\n

Frankfurt \u2013 DAX: UP 0.4 percent at 18,768.96 (close)<\/p>\n

EURO STOXX 50: UP 0.2 percent at 5,074.34 (close)<\/p>\n

Tokyo \u2013 Nikkei 225: UP 0.7 percent at 39,069.68 (close)<\/p>\n

Hong Kong \u2013 Hang Seng Index: UP 0.4 percent at 19,636.22 (close)<\/p>\n

Shanghai \u2013 Composite: UP 0.5 percent at 3,171.15 (close)<\/p>\n

Dollar\/yen: UP at 156.06 yen from 155.71 yen on Friday<\/p>\n

Euro\/dollar: DOWN at $1.0864 from $1.0873<\/p>\n

Pound\/dollar: UP at $1.2706 from $1.2702<\/p>\n

Euro\/pound: DOWN at 85.50 from 85.67 pence<\/p>\n

West Texas Intermediate: DOWN 0.1 percent at $79.95 per barrel<\/p>\n

Brent North Sea Crude: DOWN 0.2 percent at $83.80 per barrel<\/p>\n

For More News And Analysis About Mauritius<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. The price of gold hit a record high Monday as the shock death of Iranian President Ebrahim Raisi in a helicopter crash boosted support for the precious metal seen as a haven investment. Copper also struck an all-time peak and silver jumped to the highest level in more than 11 years \u2014 […]<\/p>\n","protected":false},"author":84,"featured_media":41288,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,245,241],"class_list":["post-41290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mauritius","tag-mauritius"],"yoast_head":"\nGold hits record high as Iran shock triggers haven support - Mauritius<\/title>\n<meta name=\"description\" content=\"The price of gold hit a record high Monday as the shock death of Iranian President Ebrahim Raisi in a helicopter crash b ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-hits-record-high-as-iran-shock-triggers-haven-support\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold hits record high as Iran shock triggers haven support\" \/>\n<meta property=\"og:description\" content=\"The price of gold hit a record high Monday as the shock death of Iranian President Ebrahim Raisi in a helicopter crash b ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-hits-record-high-as-iran-shock-triggers-haven-support\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-20T20:23:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-20T21:55:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/05\/sm_1716225529.662267.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"768\" \/>\n\t<meta property=\"og:image:height\" content=\"563\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-hits-record-high-as-iran-shock-triggers-haven-support#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-hits-record-high-as-iran-shock-triggers-haven-support\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Gold hits record high as Iran shock triggers haven support\",\"datePublished\":\"2024-05-20T20:23:22+00:00\",\"dateModified\":\"2024-05-20T21:55:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-hits-record-high-as-iran-shock-triggers-haven-support\"},\"wordCount\":564,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-hits-record-high-as-iran-shock-triggers-haven-support#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/05\/sm_1716225529.662267.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mauritius\",\"Mauritius\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-hits-record-high-as-iran-shock-triggers-haven-support#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-hits-record-high-as-iran-shock-triggers-haven-support\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-hits-record-high-as-iran-shock-triggers-haven-support\",\"name\":\"Gold hits record high as Iran shock triggers haven support - 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