A sign of lingering market anxiety, gold — the ultimate safe-haven asset — continues to attract investors fleeing riskier assets and climbed on Wednesday to a new all-time high of $3,275 per ounce.
“High uncertainty, along with increased central bank buying and expectations of rate cuts by the US Federal Reserve, continues to support gold,” notes Daniela Sabin Hathorn, analyst at Capital.com.
As for the US currency, it continued to fall against the Japanese yen, losing 0.53% to 142.44 yen per dollar around 6:30 GMT.
The greenback remains under pressure due to deep concerns about the US economic outlook, which have eroded its traditional safe-haven status.
Investor appetite for US debt, which had also been under sharp scrutiny last week, showed signs of recovery on Wednesday, with yields hovering around 4.3174%.
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